Port operator Kingston Wharves Limited has acquired a substantial stake in port services company Cargo Handlers Limited, CHL, and has an option to purchase additional shares, but says its future plans don’t include a takeover of the Montego Bay-based business.
Kingston Wharves now owns 27 per cent of CHL, which it acquired from co-founder and director of CHL Jane Fray, but the deal it struck allows the Kingston-based port operator to acquire an additional 13 per cent interest, which, if exercised, would grow its stake to 40 per cent.
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