Banks Holding Limited (BHL) is no longer a Barbadian-owned company

BANKS HOLDINGS LIMITED (BHL) is no longer a Barbadian-owned company.

GERALYN EDWARD, geralynedward@nationnews.com – Added 08 December 2015

banks-breweries-newton

Banks Beer on the production line at the Newton, Christ Church Barbados new plant. (FP)

The iconic Bajan brand is now under the control of Brazilian beer giant AmBev, which for the past three months has been locked in a fierce takeover war with Trinidadian conglomerate ANSA McAL.

Yesterday, chairman of BHL, Anthony King, confirmed to the DAILY NATION that it was BHL’s Guyanese namesake – Banks DIH Guyana Limited – that sealed the deal for AmBev’s subsidiary SLU Beverages of St, Lucia  to get ownership of BHL. 

He acknowledged that Banks DIH Guyana Limited sold the more than 6.5 million BHL shares it owned to AmBev last week in a trade worth more than $42 million (US$21million) on the Barbados Stock Exchange. The stock was sold at $7.10 per share. (GE)

Guyanese Online – Editor’s Note: Banks beer was originally established in British Guiana in the 1950’s by Peter D’Aguiar’s DIH company. Later it  branched off into Barbados and became a public company,selling shares mostly to Barbadians. Recently, large chunks of shares were held by ANSA McAL of Trinidad and AmBev’s subsidiary, SLU Beverages of St.Lucia, as well as Banks DIH Guyana Limited. The two Banks Beer entities are completely separate, but the Barbados and Guyana companies have cooperated over the years. BHL stopped the takeover of Banks DIH some years ago by ANSA McAL  One of the concerns was that ANSA McAL owns the Carib and Stag Beer labels.

The bidding war between ANSA McAL and SLU to gain majority ownership of BHL, took shares from about Bdos $4.00 (US$2.00) to the final price of $7.10 (US$3.55) per share. The takeover by either ANSA McAL or AmBev’s SLU Beverages was deadlocked until Guyana’s Banks DIH made the difference by selling its shares to AmBev’s SLU Beverages. It is believed that the BHL management preferred the AmBev-SLU outcome.

Company notes:

ANSA MCAL owns The Carib Brewery  which is a brewery headquartered in Trinidad and Tobago. It produces Carib and Stag beers and a range of Carib Shandy products (Ginger Shandy, Lime Shandy andSorrel Shandy). The main brewery is located in Champs Fleurs, Trinidad, while Carib also has breweries in Saint Kitts and Nevis and Grenada.[1] ..The Caribbean Development Company is owned by the Ansa McAl Group of Companies.  (Wikipedia)

Ambev, formally Companhia de Bebidas das Américas (official English translation: “Americas’ Beverage Company”, hence the name “Ambev”, formerly styled as “AmBev”) is a Brazilian brewing company. It is the biggest brewery in Latin America and the fifth in the world. It was created on July 1, 1999, with the merger of two breweries, Brahma andAntarctica. The merger was approved by the Brazilian Board of Directors of Economic Defense (CADE) on March 30, 2000.

Ambev operates in 14 countries in the Americas and its portfolio includes beers like Antarctica, Bogotá Beer Company, Brahma, Bohemia, Skol, Stella Artois and soft drinks like Guaraná Antarctica, Soda Antarctica, Sukita and the innovations H2OH! and Guarah. As the largest PepsiCo bottler outside United States, it sells and distributes PepsiCo products in Brazil and other Latin American countries, includes Pepsi, Lipton Ice Tea and Gatorade by agreement of franchising. It is controlled by Anheuser-Busch InBev. (Wikipedia)

 

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