The Fair Trading Commission has given its approval to the pending merger of the operations of Jamaica Producers Group with PanJam Investment Limited.
It paves the way for the entities to start doing business formally under the new name Pan Jamaica Group Limited during the second quarter of this year.
Managing Director of Jamaica Producers, Jeffrey Hall, says the legal aspect of the asset transfers of both parties are expected to be completed this month.
Under the deal, Jamaica Producers will take a 34.5 per cent stake in the new company.
The merged entity will create a group with more than $110 billion in assets, about half of which is expected to be in the form of cash and investments.
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