port of spain THE ANSA McAL Group has announced that its wholly-owned subsidiary ANSA Coatings International has signed an agreement to acquire Lewis Berger (Overseas Holdings) Ltd (LBOH) from Berger International Private Ltd (BIPL). It will be executed in an all-cash transaction, for an undisclosed sum, subject to customary closing conditions, including regulatory approvals, ANSA McAL said in a statement on Friday. The transaction is expected to close in the third quarter of 2017. LBOH is a privately held UK company with equity-ownership stakes of 100 per cent, 70 per cent and 51 per cent in Berger Paints Barbados Ltd, Berger Paints Trinidad Ltd and Berger Paints Jamaica Ltd, respectively.
© Luis Oberto
© Luis Oberto Anselmi
The combined Berger Caribbean business has estimated net sales of US$35 million. Become a subscriber to the Trinidad Express Newspapers for access to all our articles via our vNEWS. Subscribe to vNews | Log-In to vNews.