NEWS

Alignvest to Acquire Sagicor Financial Corporation Limited for $536 Million

December 04, 2018

New York - Paul Hastings LLP, a leading global law firm, announced today that the firm is advising Sagicor Financial Corporation Limited, the market-leading provider of insurance products and related financial services in the Caribbean region on a proposed business combination with Alignvest Acquisition II Corporation, a special purpose acquisition corporation listed on the Toronto Stock Exchange.

Alignvest will acquire all of the shares of Sagicor by way of a scheme of arrangement under Bermuda law. The transaction is valued at approximately $536 million and is expected to close in the late first half of 2019, subject to customary shareholder and regulatory approvals. Sagicor operates in 22 jurisdictions, including Barbados, Trinidad & Tobago, and Jamaica, and has a growing presence as a provider of life insurance products in the United States.

The Paul Hastings team was led by partners Cathleen McLaughlin and Robert Leung and also included partners Mike Huang, Eric Keller, Andrew Short and Matthew Poxon, of counsels Jason Hill and Michael Wise, associates Daniel Grossman, Alex Herman, Melanie Sedrish, Stephen Grace, Brooke Schachner and Sabin Chung, and law clerk Bo-Shan Xiang and Catherine Kennedy.

Sagicor is a market-leading provider of insurance  products and related financial services in the Caribbean.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.