Jan 2020
Conyers advised Sagicor Financial Corporation Limited (“SFCL”) and Alignvest Acquisition II Corporation (“AQY”) completed a business combination transaction involving the transfer of all issued and outstanding shares in SFCL to AQY in exchange for shareholders of SFCL receiving cash or shares of AQY. Pursuant to a plan of arrangement under the laws of Ontario and a scheme of arrangement under the laws of Bermuda. AQY Continued to Bermuda under the name Sagicor Financial Company Ltd. (“Sagicor”). As a result of the closing, Sagicor will retain over US$440 million of net cash and will be exceptionally well-capitalized. Sagicor expects to utilize the cash for growth and for capital optimization purposes.
The shares and warrants of Sagicor are now listed on the Toronto Stock Exchange.
Directors, Sophia Greaves and Christian Luthi and Associates, Katie Martin, Jennifer Panchaud and Rhys Williams of Conyers’ Bermuda office advised on this matter, working alongside Paul Hastings LLP and Blakes LLP.