Browne adamant that locals banks should get first preference in Scotiabank sale

The Prime Minister of Antigua and Barbuda is reiterating the government’s position that the directors of Scotiabank will not be receiving a vesting orderto facilitate the sale of its local business in the country, unless a consortium of local banks is given the first right of refusal to acquire the bank’s operation in the country.
Gaston Browne issued the threat Monday during a ceremony at the VC Bird Bust on Market Street, while noting that his administration is not afraid of any legal action which may be mounted by the directors of the financial institution. The Canadian based Bank of Nova Scotia has been operating in Antigua and Barbuda for more than 50 years. “We will not be issuing the vesting order unless we get a deal that is satisfactory to us. In that case they will have to go to court because we will not voluntarily do it,” Browne said. Read More….

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