Apr 2012 Financial News

AMCL - AMCL Acquires Standard Distributors Group

Apr 04, 2012

Ansa McAL Limited has informed the Stock Exchange that it has entered into a Share Purchase Agreement with Anthony N. Sabga Limited and a Business Transfer Agreement with Norman Finance Developments Limited for the purchase and sale of Standard Distributors Limited and Bell Furniture in Trinidad and the Standard Business in Barbados (collectively referred to as “Standard’s”) for the total sum of TT$120 million. Surplus cash at Ansa McAL Limited’s Treasury Reserves will be used to fund this transaction which is expected to close within 120 days of the date of execution of these Definitive agreements. This transaction involves related parties in that Ansa McAL and Standard’s have common shareholders.


Source:
The Trinidad and Tobago Stock Exchange Limited
Wednesday April 4, 2012