TRINIDAD CONGLOMERATE ANSA McAL is taking its fight for control of Banks Holdings Limited (BHL) back to court.
Not only is ANSA McAL appealing last Friday’s court decision to lift an injunction blocking bidding for BHL and trading of its shares, but it has served notice of its intention to join forces with “several other” BHL shareholders to bring a class action suit against the local beverage company.
This latest twist was revealed by ANSA McAL (Barbados) Limited president and chief executive officer Nicholas Mouttet, who is urging “aggrieved shareholders” to join in the civil suit.
The basis of the planned class action suit is the controversial “$10 Put Option” included in the finance agreement which BHL reached with Latin Capital Fund/SLU Beverages Limited four years ago when it was building its new brewery at Newton, Christ Church. (SC)
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