Wednesday, April 24, 2024

$5.20 offer

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TRINIDAD conglomerate ANSA McAL Limited is preparing to flex its financial muscle with a $337.2 million offer to “all” Banks Holdings Limited (BHL) shareholders.

Brazilian beer giant AmBev, which already owns 40.7 per cent of BHL through subsidiary SLU Beverages Limited, has tabled a $4 per share offer for the remaining 38.4 million shares it does not now own. That offer expires at 3 p.m. on October 26.

However, ANSA McAL, whose Carib and Stag beer brands are major competitors to BHL’s Banks, Deputy and other brewed beverages, is raising the stakes, offering $5.20 per share for full control of the Barbados beverage group.

The ANSA McAL per share offer is identical to the “fair market value” price specified by accounting firm KPMG, which was communicated to BHL shareholders in a circular from its directors.

Please read the full story in today’s Daily Nation, or in the eNATION edition.

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