BroadSpan (Caribbean) and Singhi (India) advise ANSA McAL on acquisition of Bank of Baroda Trinidad

BroadSpan executed the transaction in a joint effort with its Indian partner, Singhi Advisors, thus providing ANSA McAL with key cross-border resources necessary to complete what was a complex transaction.

BroadSpan Capital LLC acted as financial advisor to ANSA McAL, a Caribbean based conglomerate, on its acquisition of 100% of Bank of Baroda (Trinidad and Tobago) Limited.

ANSA Merchant Bank, a subsidiary of ANSA McAL Ltd, will now extend its offerings into commercial and retail banking from the current focus on investment banking and investment management services. ANSA McAL Ltd is listed on the Trinidad and Tobago Stock Exchange and last reported a market capitalization of US$1,440 million.

The Bank of Baroda, an Indian government-owned banking and financial services company, started operations in Trinidad and Tobago in October 2007 and is one of only eight banks that operate in the country. It has three retail branches in Trinidad, in Port of Spain, San Fernando and Chaguanas, that offer loans to both retail and corporate clients.

BroadSpan had worked with ANSA McAL for several months in an acquisition search. Once the target was identified, BroadSpan navigated a complicated negotiation and regulatory process involving stakeholders in Trinidad and India and, in the end, positioned ANSA McAL for a successful outcome.

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