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PB2021-019 Banco di Caribe Committed to Further Growth as Part of United Group Holdings

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Press Release 2021-019

Banco di Caribe Committed to Further Growth as Part of United Group Holdings

Willemstad/Philipsburg - Banco di Caribe N.V. ("Banco di Caribe") is being sold to United Group Holdings B.V. ("United"). The sale will include all of Banco di Caribe's banking activities in Curaçao, Aruba, Bonaire and Sint Maarten, as well as the insurance and investment activities of Van der Lubbe Assurantiën N.V., Bancarib Real Insurance Curaçao N.V. and BdC Investments B.V. The sales agreement was signed on September 11, 2021, by the seller, Ennia Caribe Holding N.V. ("ECH"), represented by Centrale Bank van Curaçao en Sint Maarten ("CBCS") and the buyer, United. ECH is the Ennia group's parent company. United is an established financial services company, operating in Curaçao and six European countries, including financial centers such as Amsterdam, London, and Luxemburg, as well as elsewhere.

Banco di Caribe
Banco di Caribe is a key institution in the Caribbean parts of the Kingdom of the Netherlands. Banco di Caribe's acquisition by United contributes to the consolidation of the banking landscape in Curaçao. In United, Banco di Caribe will gain a strong shareholder and a committed partner, thereby creating room for growth and to invest in providing optimal financial services on the islands of Aruba, Bonaire, Curaçao and Sint Maarten.

Ennia Group’s Financial Recovery
ECH and United expect to complete the sale of Banco di Caribe, which is conditional on the successful completion of the supervisory screening required by law, in the fourth quarter of this year. The sale of Banco di Caribe to United is an important step in the financial recovery of the Ennia Group. The all-cash proceeds will immediately be made available to ENNIA Caribe Leven N.V., thereby contributing to a lower risk profile and the optimization of its investment portfolio, all for the benefit of its policyholders. Moreover, the sale will allow the Ennia Group to fully focus on its insurance business.

For questions regarding the sale of Banco di Caribe please send an email to: CBCS@centralbank.cw.

Willemstad, September 16, 2021

Last updated: 15.05.2024 11:05