The deal was approved by more than 98.18 per cent of the votes cast by holders of ordinary shares of Trinidad's largest bank, RBTT said Wednesday.

The amalgamation resolution was approved by more than 98 percent of the votes cast by holders of ordinary shares holders, a company statement said. RBTT shareholders will receive total per share consideration in the amount of approximately TT$40.

RBTT Group Chairman Peter July called the decision `historic` and said it will benefit all stakeholders.`

RBTT and RBC had announced on October 2, 2007, that RBC would acquire RBTT for a total purchase price of approximately TT$13.8 billion, or approximately US$2.2 billion.

The deal is expected to close in May or June. Following the completion of the amalgamation, RBTT Financial Holdings Limited and RBC Holdings (Trinidad & Tobago) Limited, a subsidiary of RBC, will amalgamate and continue as a wholly owned indirect subsidiary of RBC.