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Barita acquisition of JN Fund Managers pushes client funds over $500 billion
Barita Investments Limited can proceed in fully acquiring JN Fund Managers Limited (JNFM), a wholly owned subsidiary of Jamaica National Group, according to a release on the matter. “The transaction is expected to increase Barita’s assets under management (AUM) to over $500 billion,” indicated a release from Cornerstone about AUM, which are funds invested on […]
Barita to acquire JN Fund Managers in $4.2 billion deal
BARITA Investments Limited has moved a decisive step closer to absorbing JN Fund Managers Limited (JNFM) after securing the critical regulatory no-objection from the Financial Services Commission. The transaction, valued by financial sector sources at approximately $4.2 billion, is poised to create one of Jamaica’s largest asset manager, overseeing a combined portfolio exceeding $500 billion. […]
Kingston Wharves acquires large stake in Cargo Handlers
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 […]
Kingston Wharves spends $1.1 billion on 27% acquisition of CHL
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 […]
Agostini subsidiary Caribbean Distribution Partners to buy Massy Distribution (Jamaica) Ltd
Trinidadian company Agostini Limited has announced that it has entered a share purchase agreement with Massy Group to acquire 100 per cent of pharmaceutical and consumer distribution company Massy Distribution (Jamaica) Limited (MDJL) through its subsidiary Caribbean Distribution Partners Ltd (CDP). In a notice on the Trinidad and Tobago Stock Exchange Agostini stated, “This acquisition […]
A.S. Bryden To Launch Takeover Bid For CPJ
After spending 30 years nurturing one of Jamaica’s premier hospitality manufacturing and distribution company, Anthony Mark Hart and Thomas “Tom” Tyler, co-founders of Caribbean Producers (Jamaica) Limited (CPJ), have handed over the reign of CPJ to A.S. Bryden & Sons Holdings Limited (ASBH) as they sold their remaining 30 per cent of the company for […]
Former Jerky’s manager awarded $5 million for ‘unjustifiable’ dismissal
The Industrial Disputes Tribunal (IDT) has awarded a former restaurant manager $5 million for her “unjustifiable” dismissal after its first decision in 2020 affirming her termination was overturned by the Supreme Court. The IDT is a quasi-judicial body established by law to resolve disputes between workers and their employers. Melisa Donalds was the restaurant manager […]
One Great Studio breaks IPO drought
Digital marketing company One Great Studio (1GS) has broken the drought for investors seeking to participate in initial public offers (IPO) this year, being the first to come to market. The company, which calls itself a “digital first” operation, will be seeking to raise $338.63 million in equity through its IPO, which will open on […]
Newcomer ECHE gets cash boost from regional security giant
The equity deal with amalgamated was linked in March, just months after Myres-Gray had reacquired former backer Proven Investments Holdings’ stake in the business. Read more at The Gleaner
ECHE Limited inks deal with Amalgamated Security Services
Lititia Myers Gray, chief executive of cash management and digital payments firm, ECHE Limited, is announcing a partnership pivot from its original majority shareholder to regional security company Amalgamated Security Services Limited. Read more a Our Today
