Canadian company to acquire Sagicor

Sagicor Financial Corporation Limited (Sagicor), has announced that it has entered into a takeover agreement with Alignvest Acquisition II Corporation, in which Alignvest will acquire Sagicor's shares at a price of approximately US$536 million.

Alignvest is a special purpose acquisition corporation that listed on the Toronto Stock Exchange in May 2017 and raised, or received subscriptions for, an aggregate of C$565 million.

Alignvest has no current operations and this proposed business combination with Sagicor is intended to be its sole and only qualifying acquisition.