Wed | Nov 22, 2017

Barita considering buyout offer

Published:Saturday | August 5, 2017 | 10:40 AM

 

Barita Investments Limited has advised that its board is considering a buyout offer, but did not name the suitor.

The company made the disclosure in a market filing.

Barita is a four decade old company founded in 1977 by Rita Humphries-Lewin, its current chairman.

The company went public in 2010 and listed on the Jamaica Stock Exchange.

The Barita stock, BIL, climbed on the news to close the week at $7.05 valuing the company at $3.14 billion.

The company said discussions on the buyout offer continues “pending the preparation and conclusion of definitive agreements.”

business@gleanerjm.com