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Hot Banks


ROY R. MORRIS and SHAWN CUMBERBATCH

Hot Banks

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THE SLOGAN on its trucks screams Grab An Ice Cold Banks Beer, but the battle for ownership of parent company Banks Holdings Limited (BHL) was anything but cold by sunset yesterday.

In two apparently unrelated assaults on BHL and AmBev – through subsidiary SLU Beverages Limited – Trinidad giant ANSA McAL revealed yesterday evening it was raising its offer to shareholders from $6 to $7 per share, shortly before a group of 15-plus small shareholders filed a class action suit in the Barbados High Court seeking to sanction BHL.

ANSA’s decision to up its offer came just four days after Brazilian competitor AmBev increased its offer to BHL shareholders from $5.60 to $6.20 per share.

“ANSA McAL Limited (ANSA McAL) wishes to advise all shareholders of BHL of its intention to amend its offer to purchase 100 per cent of the issued common shares in Banks Holdings Limited (BHL) to BBD$7. (RRM/SC)

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

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