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Monumental merger: JP Group, PanJam to merge assets
Jamaica Producers Group Limited (JP Group) and PanJam Investment Limited have announced a monumental agreement which will see the amalgamation of the asset bases of both businesses, valuing more than $100 billion, in what is one of Jamaica’s largest-ever partnerships. Details of the agreement were outlined in a joint release on the Jamaica Stock Exchange’s […]
Spur Tree Spices cements foothold in canned ackee export market
Spice and condiments manufacturer Spur Tree Spices Jamaica Limited (Spur Tree) has acquired majority ownership of agro-processing company Canco Jamaica, which trades under the brand Linstead Market. The acquisition is intended to cement Spur Tree’s foothold in canned ackee exports, deepen export penetration and increase the production capacity of both entities.
NCB successfully raises US$300 million through international private placement
Jamaica’s leading commercial bank, National Commercial Bank (NCB), has successfully raised US$300-million on the international capital market. The money was raised through a private placement, arranged by Florida-based Greyfell Capital Management LLC. The capital raise was executed by way of the securitization NCB’s Credit Card Merchant Voucher Receivables. Read More at Our Today
GraceKennedy to acquire Scotia Insurance Caribbean
GraceKennedy (GK) is set to acquire 100 per cent of Scotia Insurance Caribbean Limited (SICL). The transaction is subject to regulatory approvals and other customary closing conditions. The announcement of the impending acquisition comes exactly one year after GK acquired another Bank of Nova Scotia subsidiary, Scotia Insurance Eastern Caribbean Limited (SIECL). The business was subsequently rebranded as […]
GK Announces New Joint Venture With TTUTC
GraceKennedy (GK) has announced that the investment and advisory arm of its GraceKennedy Financial Group (GKFG), GK Capital Management Limited (GK Capital), has signed a joint venture agreement with the Trinidad and Tobago Unit Trust Corporation (TTUTC). The new venture, which remains subject to the requisite regulatory approvals, will allow GK and TTUTC to partner […]
GK Announces New Joint Venture With TTUTC
The TTUTC and GK team at the signing of the joint venture agreement last Friday, May 20, 2022 at the GK headquarters in downtown Kingston. (L-R) Jezeel Martin, Associate, Myers, Fletcher & Gordon; Hilary Reid, Partner, Myers, Fletcher & Gordon; Deyson Scott, (Ag.) Vice President, Sales and Service, TTUTC; Dawn Seepersad, General Counsel and Corporate […]
NFE financing gets approved
Following the announcement of the deal between Sagicor Group Jamaica Limited (SJ) and New Fortress Energy Incorporated (NFE) last June, the US$285-million ($44.18-billion) bond raise for NFE South Power Holdings Limited (SPH) has received all regulatory approvals and will move on to phase two of the transaction. SPH was formed in 2016 to own and operate […]
SLEEPING WATCHDOGS: KSAMC, NEPA slammed as developer almost triples rooms in building breaches
There are more questions about negligence or possible corruption at the Kingston and St Andrew Municipal Corporation (KSAMC) and the National Environment and Planning Agency (NEPA) following a court case that revealed that a developer built 32 bedrooms at a St Andrew development approved for just 12. In ruling against the developer’s quest to change […]
Proven REIT and SAJE ink new joint venture
PROVEN REIT Limited (PREIT) announced on December 14 that it has joined forces with SAJE Logistics Infrastructure Limited (SAJE) to develop a new warehouse complex in Kingston. The Kingston Gateway Warehouse Complex will sit on just under four acres of land at 221-223 Marcus Garvey Drive. Cost at US$13 million, the development is targeted at […]
VAX APPEAL: Claimants intend to contest Supreme Court rejection of constitutional breach in mandate case
The five employees of pharmaceutical giant Cari-Med, who yesterday suffered a major blow in their bid to challenge the company’s vaccination policy after the Supreme Court threw out the constitutional aspect of the legal challenge, have signalled… READ MORE AT THE GLEANER
