been delayed, Hemisphere said yesterday.

Hemisphere vice president, finance, Joseph Kelly said the deal has yet to receive approval from the Minister of Finance.

But the delay is expected to be brief, he added.

Hemisphere, a financial services company, hoped to meet with Finance Minister Grant Gibbons earlier this week. The company now anticipates a meeting, leading to approval, will occur in the next few business days.

The acquisition of Hemisphere by risk management provider MRM was overwhelmingly approved by Hemisphere's preferred shareholders at a meeting last Friday.

The Finance Minister must approve the deal because it involves the acquisition of a local company, Hemisphere, by an exempt company, MRM.

That approval is necessary because Hemisphere holds management and trust licences. Those licences will now be part of MRM Financial Services Ltd., an MRM subsidiary.