ANSA McAL is calling for the immediate resignations of the Banks Holdings Limited (BHL) board of directors.
The latest salvo in the ongoing saga involving the two entities and AmBev was fired in a paid advertisement appearing in today’s DAILY NATION.
In it, ANSA McAL stated it was deeply concerned with the convertible debt purchase agreement it said the BHL board “secretly” entered into with the then Latin Capital Fund – now known as SLU Beverages Ltd – in 2010. AmBev is the parent company of SLU.
“The effect could be to bankrupt [BHL] if ANSA’s bid is successful. While it has signalled its firm commitment to battle AmBev for the control of BHL and recently announced its intention to offer BHL shareholders $6 per share, ANSA sees the agreement as an unjustifiable impediment to a fair and equitable competitive bidding process,” the company said. (CA/PR)
Please read the full story in today’s Daily Nation, or in the eNATION edition.