AS Bryden and Sons Holdings acquired another 30.4 percent amounting to 334.3 million shares of Caribbean Producers with the trade taking place on Friday over the Jamaica Stock Exchange Main Market. The acquisition takes the group’s holding to 75.3 percent a release from the Trinidad company confirmed to the Jamaica Stock Exchange.
The selling shareholders are Sportswear Producers Limited with 168,722,866 shares or 15.3384 percent of the CPJ issued capital, Thomas Tyler with 82,830,563 with 7.5301 percent and Wave Trading Limited with 82,755,239 shares with 7.5232 percent. ASB swapped 94.87 million of their shares to the CPJ sellers.
In Main Market activity on Friday, Caribbean Producers led trading with 334.34 million shares valued at $2.6914 billion, which includes the above shares at a value of $2.691 billion.
The acquisition now triggers a mandatory takeover offer that will be made within 30 days, , but they intend to keep the company listed, AS Bryden and Sons Holdings stated in the release.
The acquisition now triggers a mandatory takeover offer that will be made within 30 days, , but they intend to keep the company listed, AS Bryden and Sons Holdings stated in the release.