Sagicor Group Jamaica Limited has advised that it has completed the sale of its shares in its Sagicor Real Estate X Fund subsidiary.

This was done through a series of transactions which led to the disposal of all its shareholding in the subsidiary, effective September 30.

After careful consideration, Sagicor Group Jamaica decided that the deconsolidation of Sagicor Real Estate X Fund to allow it to better realise its potential and will help to improve shareholder value for of Sagicor Real Estate X Fund shareholders.

Sagicor Group Jamaica expects the stand-alone operation of Sagicor Real Estate X Fund to accelerate and expand its activities, as it implements its strategic priorities.

In support of this decision, two of Sagicor Real Estate X Fund directors, Christopher Zacca and Dodridge Miller, demitted office as directors, effective September 30.

In the meantime, Zacca and Miller remain directors of Sagicor Group Jamaica.