November 30, 2012 / 8:21 AM / in 5 years

Campari extends offer for Jamaica's Lascelles to Dec.10

1 Min Read

MILAN, Nov 30 (Reuters) - Italy's Gruppo Campari said on Friday it had extended to Dec. 10 its bid to take over the whole of Jamaican rum maker Lascelles de Mercado & Co , a deal which will boost its presence in the growing American market.

Campari, maker of the eponymous red aperitif, said in a statement that 96.3 percent of Lascelles' ordinary shares had been tendered.

In September Campari said it had agreed to buy an 81.4 percent stake in Lascelles from ailing Caribbean state-owned conglomerate CL Financial. Its offer valued the target at $414.8 million.

Campari also said at the time it was making a $4.32 per share offer to remaining Lascelles minority shareholders in a bid initially due to end on Nov. 30.

Campari said it intended to delist Lascelles from the Jamaican Stock Exchange. (Reporting by Antonella Ciancio; Editing by Lisa Jucca)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below