Kingston Wharves Limited (KW) has acquired a 27.126 stake in Cargo Handlers (CHL) for $1.095 billion as it continues its expansion into Western Jamaica.
The trade took place on Monday as company founder, director, and company secretary Jane Fray sold her 112,911,980 shares at $9.70 to KW. That made KW the second largest shareholder in the Montego Bay company and CHL an associate company of KW. “CHL and its principals have a long history of partnerships that support the development of the Port of Montego Bay. We are optimistic that our relationship with KWL will be no different. We have invited representatives of KWL to join our board and to participate in the governance and ongoing strategic development of CHL,” stated Chairman Anthony Mark Hart in the joint CHL KW release.
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