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ANSA tops Ambev offer with $7.20

GERALYN EDWARD, [email protected]

ANSA tops Ambev offer with $7.20

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BANKS HOLDINGS LIMITED (BHL) shareholders continue to inch closer to a massive payday as two conglomerates battle for control of the Barbadian company.

Less than 24 hours after Brazilian beer giant AmBev said it planned to increase its offer to $7.10 per share, Trinidad-headquartered conglomerate ANSA McAL also announced it was prepared to top AmBev’s offer with a proposal of $7.20 per share for all of BHL’s common shares.

The latest ANSA McAL offer is 20 cents more than its last and ten cents higher than what AmBev, through its subsidiary SLU Beverages, has placed before BHL shareholders.

President and chief executive officer of ANSA McAL (Barbados) Ltd, Nicholas Mouttet, said the company was pleased with the response to the previous $7 offer, adding: “We are looking forward to another positive response from the BHL shareholders to this new offer of $7.20.” (GE)

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