Trinidadian set for biggest share in SVL

Supreme Ventures set to be controlled by Trinidadian company.

Zodiac International Investments and Holdings Limited, a Trinidad & Tobago based corporation is making plans to take controlling interest in Supreme Ventures, IC Insider.com has gleaned from a reliable source.
Zodiac International indirectly owns half of the 49.90 percent of Supreme Ventures shares controlled by Intralot Caribbean Ventures. Zodiac International is seeking to acquire the remainder of the shares it does not already owns, making them the largest single shareholder if they succeed with the acquisition.
This publication understands that the company has engaged a leading local investment house to raise privately US$40 million to fund the acquisition. There are no indications that Zodiac intends to move the holdings beyond 50 percent and they may well sell of a portion to take it lower.
Supreme Ventures traded at $11 on the Jamaica Stock Exchange on Tuesday putting the value at $29 billion or about US$220 million.
Profit for Supreme Ventures surged 41 percent from $649 million to $918 million after tax, with second quarter profit jumping by a lesser 34 percent to $502 million from $374 million in 2016. Caymanas Park conducts live horse racing in Jamaica and was acquired earlier in the year by Supreme Ventures and is yet to start contributing to profits of the group.

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  1. […] There was no trading in the US dollar market. Fresh from reports that the major holdings in Supreme Ventures will be under the full control of a Trinidad Company the price of Supreme climbed by $1 to $12 with […]