Italian drinks giant Gruppo Campari has made a tender offer of $414.8m to buy 100% of the issued shares of Lascelles deMercado (LdM), a Jamaica-based parent company of the Appleton Estate and Wray & Nephew rum brands.
On 3 September 2012, Campari signed an agreement with CL Financial Limited group of companies (CLF), owner of LdM, to hold 90.7% of issued ordinary shares and 97% of issued preferred shares of LdM.
The tender offer, which is made through a wholly owned subsidiary of Davide Campari-Milano - Campari Espana SL, will allow Camapri to delist LdM from the Jamaican Stock Exchange.
Gruppo Campari CEO Bob Kunze-Concewitz said the tender offer will help them close the purchase deal of LdM, which is expected to be completed by December 2012.
"We are excited about the opportunity to acquire the iconic brands of the Lascelles deMercado Group and a strong distribution organisation for spirits and general merchandise, which we both see as strategic assets that we intend to develop further," Kunze-Concewitz added.
