Following on the heels of its 15 per cent share acquisition last year December, the GraceKennedy Group (GKG) has announced plans to further strengthen and expand its financial division through an offer by the holding company, GraceKennedy Financial Group Limited (GKFG), to acquire a greater stake in Key Insurance Company Limited.
In going public on the offer, GKG disclosed that in its pursuit they intend to limit share acquisition to not more than 80 per cent, so that Key Insurance will remain listed on the junior market. The offer will be open for acceptance by Key Insurance’s shareholders at 9:00 am on January 27, 2020 and end at 4:30 pm on February 17.
Speaking about the acquisition, Group chief executive officer (CEO) at GraceKennedy, Don Wehby disclosed that mergers and acquisitions (M&A) will be a key strategic driver for growth for the group this year.
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