JAMAICAN investors could receive about $54 billion from the proposed buyout of Scotia Group Jamaica Limited, one of the largest dividend-paying companies listed on the Jamaica Stock Exchange (JSE), but replacing it may prove harder than finding somewhere to park the cash.

Scotiabank Caribbean Holdings Limited, which owns 71.78 per cent of Scotia Group, has offered $61.50 per share for the shares it does not already own as part of a plan to take the banking group private.

The offer values the minority stake of more than 878 million shares at approximately $54 billion. Scotia’s stock rose 82 cents, or 1.4 per cent, to close at $59.40 on Tuesday, leaving it $2.10 below the proposed purchase price. At that market price, the company was valued at about $184.8 billion.