- Caribbean Investment said it had reached on to acquire Normandy, in a deal worth £13.58m.

The acquisition of Normandy - and its main asset of approximately £13.5m in cash – would strengthen the company's balance sheet, and enhance its ability to execute its strategy of exploring further synergistic acquisition opportunities in the Caribbean region, the company said.

Following the completion of the merger, Normandy shareholders would collectively hold a 36.1% stake in the company and approximately 26.6% in the enlarged group.

The acquisition would be implemented through the merger that was expected to become effective on or around 9 June 2020.

At 9:27am: [LON:CIHL] Caribbean Investment Holdings Limited Ord Npv share price was +2.5p at 40.5p

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