CIBC Caribbean Acquired by Butterfield | Financial Services M&A Deal

Butterfield has agreed the acquisition of CIBC Caribbean, a banking business in the Caribbean, for $1.8bn. Butterfield acquisitions in financial services M&A focus on expanding retail and commercial banking capabilities through the CIBC Caribbean acquisition. The merger acquisition supports a strategic acquisition of regional customer relationships and deposit and lending operations across the Caribbean market. The announced deal is a strategic acquisition and merger acquisition by a strategic buyer, sized over $100M, with closing subject to customary regulatory approvals and transaction terms.