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Banks bucks

SHAWN CUMBERBATCH, [email protected]

Banks bucks

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BRAZILIAN COMPANY Ambev is ready to pump millions of dollars into the expansion of production at Banks Holdings Limited (BHL), while using Barbados as an export hub into the Caribbean and Central America.

Eduardo Lacerda, Ambev’s vice-president for Central American and the Caribbean, gave that commitment as the company waits to find out how many shareholders will accept its $4 per share offer by the October 31 deadline.

Speaking during an interview with the DAILY NATION at Hilton Barbados yesterday, Lacerda said the $4 per share offer “represents a 60 per cent premium of what is the market reality today, which is the stock market price”.

He was responding to a suggestion that BHL’s book value was actually about $4.81 and hence $4 per share was not a good enough offer.

Please read the full story in today’s Daily Nation, or in the eNATION edition.