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Bottleneck


SHAWN CUMBERBATCH, [email protected]

Bottleneck

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LEGAL BATTLE LINES have been firmly drawn and neither Banks Holdings Limited (BHL) nor ANSA McAL intend to back down from their positions in the controversial takeover bid for BHL, which is now in the court’s hands.

Both parties brought their legal counsel to the table yesterday at separate Press conferences one day after ANSA McAL got a court-issued restraining order halting the two-way takeover battle between the Trinidad conglomerate and Brazilian beverage giant AmBev, through subsidiary SLU Beverages Limited.

The war of words continued during an 11 a.m. Press conference at BHL’s corporate offices in the Pine, St Michael, and at Accra Beach Resort where ANSA held its own briefing two hours later.

While BHL director and chairman of the special takeover committee, Chris de Caires, and BHL legal representative Barry Gale QC dismissed ANSA’s calls for the directors to resign, ANSA McAL Barbados chief executive officer Nicholas Mouttet and the company’s lawyer, Patterson Cheltenham QC, denied BHL’s charge that ANSA was aware of the so-called “poison pill” clause in the finance agreement between BHL and Latin Capital Fund 1/SLU. (SC)

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

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