ANSA Mc AL FREEZES TRADING OF BANKS HOLDINGS SHARES
If Ansa McAL succeeds in bringing Banks Holdings Limited into its vast protfolio of local and ragional businesses, it will cost the conglomerate over 400 million dollars.
Mouttet said his group was very keen to avoid any unnecessary delays in the takeover process and had requested of the court a short interim injunction period and an early hearing to limit inconvenience to shareholders.
The CEO told media that Ansa McAL wanted to acquire BHL since at least 11 years ago, but far more discreetly than what is happening now – which is why they sought the injunction to give all sides time to reconsider;-
With the temporary injunction, the Trinidad conglomerate Ansa McAl now has until November 11, to raise objections to the sale of the local beverage company.
Gale cautioned the move will have implications for the company and shareholders.