Law firm Mourant has advised members of the NCB Financial Group on a restructuring that includes the proposed sale of two Cayman Islands-based subsidiaries to Clarien Bank Limited.
The transaction involves the sale by National Commercial Bank Jamaica Limited of its wholly owned subsidiaries – NCB (Cayman) Limited and NCB Trust Company (Cayman) Limited.
The move is part of a wider intra-group restructuring aimed at optimising the group’s business structure and aligning related activities.
The deal also includes the linked sale by NCB Capital Markets (Cayman) Ltd of a defined portfolio of wealth and investment management client relationships.
The transaction remains subject to regulatory approvals and other closing conditions.
Mourant’s Cayman corporate team advising on the matter was led by partners Tom McLaughlin and Catherine Pham, supported by associate Paris Goode and paralegal Charmaine Yu.
Financial services regulatory advice was provided by partner Sara Galletly and her team.
In a press release on 5 March, McLaughlin said the firm was pleased to assist on the transaction.
He said: “This is a great example of the way our corporate and regulatory experts are able to closely collaborate to provide integrated advice on complex cross-border share and asset-sale transactions, particularly those involving regulated financial services businesses.”
