Monday, April 22, 2024

FTC keeping eye on drinks battle

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THE FAIR TRADING COMMISSION (FTC) is flexing its muscle as the hostile takeover battle for control of local beverage conglomerate Banks Holdings Limited (BHL) intensifies.

In hand-delivered correspondence to BHL’s chief executive officer Richard Cozier last Thursday, the FTC’s director of Fair Competition Antonio Thompson warned the company that the quasi-judicial body was keeping a hawk’s eye on developments.

Brazilian beer giant AmBev, through its St Lucia-registered subsidiary SLU Beverages Ltd, and Trinidad-based ANSA McAL conglomerate are in a corporate duel for control of BHL, which owns Banks Breweries, the Pine Hill Dairy, Barbados Bottling Company, as well as two associated companies. (GE) 

Please read the full story in today’s Sunday Sun, or in the eNATION edition.

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