Nov 27 (Reuters) - Sagicor Financial Corp SAFI.L :
* ARRANGEMENT AGREEMENT FOR STRATEGIC ACQUISITION
* SAGICOR SHARES WILL BE ACQUIRED AT A PRICE OF US $1.75 PER SHARE THROUGH A COMBINATION OF CASH AND SHARES
* DEAL TO RESULT IN ENTITY WITH AN AGGREGATE VALUE OF APPROXIMATELY US$536 MILLION
* ENTERS INTO ARRANGEMENT AGREEMENT WITH ALIGNVEST ACQUISITION II CORPORATION AND AGREEMENT FOR STRATEGIC ACQUISITION
* DODRIDGE MILLER PRESIDENT AND CEO WILL CONTINUE TO LEAD ORGANIZATION
* APPOINTED BOARD POST DEAL EXPECTED TO CONSIST OF EXISTING SAGICOR DIRECTORS, INCLUDE SEVERAL ALIGNVEST-APPOINTED DIRECTORS
* EXPECTS THAT TRANSACTION WILL INCREASE ANNUAL NET INCOME BY APPROXIMATELY US$30 MILLION, UPON CLOSING
* SAGICOR AND ALIGNVEST WILL ACQUIRE SCOTIABANK'S LIFE INSURANCE OPERATIONS IN JAMAICA AND IN TRINIDAD & TOBAGO
* TO ENTER 20-YEAR EXCLUSIVE DEAL WHERE SCOTIABANK TO PROVIDE INSURANCE SOLUTIONS TO ITS CLIENTS IN JAMAICA AND TRINIDAD & TOBAGO
* UPON CLOSING OF TRANSACTION, IT IS EXPECTED THAT ALIGNVEST WILL CHANGE NAME TO "SAGICOR FINANCIAL COMPANY LTD.", BECOME A BERMUDA CO
* UPON DEAL CLOSING TIMOTHY HODGSON, MANAGING PARTNER OF ALIGNVEST MANAGEMENT CORPORATION, WILL BECOME CHAIRMAN OF BOARD