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The East Caribbean Financial Holding Company Limited (ECFH) has confirmed that, subject to approval by the Financial Services Regulatory Authority of Saint Lucia, the sale of its wholly owned international (offshore) banking subsidiary, Bank of Saint Lucia International (BOSLIL) to PROVEN Investments Ltd. (PIL) has been agreed.

PIL is an investment holding company operating in financial services and listed on the Jamaica Stock Exchange.

An ECFH statement said the two companies have signed an agreement for the sale and purchase of 100 per cent shareholding interest in BOSLIL.

ā€œThe parties are in the process of obtaining the necessary regulatory approvals prior to the completion of the saleā€, the statement said.

An earlier posting on this site reported this item of news under another headline BOSL BEING SOLD which must have given the impression that it was the domesticĀ operations, Bank of St Lucia that was being sold. This is not the case.

THE VOICE wishes to apologize for the ECFH for the error in our headline which now appears correctly at the top of this item making it clear that it is the international banking subsidiary that is being sold. We regret any inconvenience that our headline might have caused.

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