Saturday, June 24, 2017

ANSA to buy Berger business*


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.
The combined Berger Caribbean business has estimated net sales of US$35 million.

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