Jul 2018 Financial News

Ansa McAL Limited - Acquisition notice of Trinidad Aggregrates Products Limited

Jul 24, 2018

ANSA McAL Limited hereby advises that on 23rd May, 2018, a binding offer was issued to the shareholders of Trinidad Aggregates Products Limited (TAP) to acquire 100% of the total shareholding in the company at a total price of $77,100,000.00. This offer expired on 4th July, 2018.
 

On 18th July 2018, ANSA McAL issued a revised offer to the shareholders of TAP to acquire a minimum of 75% and maximum of 100% of TAP’s shareholding at the price of Three Dollars and Fifty Cents (TT$3.50) per share (‘the Offer’). The maximum purchase price amounts to the sum of Fifty-Four Million, Eight Hundred and Ninety-Nine Thousand, Eight Hundred and Thirty-Eight Trinidad and Tobago Dollars (TT$54,899,838.00). The Offer was accepted by the shareholders at a special meeting of the company held on 18th July 2018.
 

The Offer is subject to the execution by the parties of a legally binding share purchase agreement. We will keep you updated on the completion of this transaction.


Source:
The Trinidad and Tobago Stock Exchange Limited
Tuesday July 24, 2018