Troubled Trinidad and Tobago conglomerate, CL Financial, has remained silent since agreeing to sell its 81 percent stake in Lascelles de Mercado to Italian spirits company Grupo Campari.
The deal is valued at 414 million US dollars.
A report in today's issue of Trinidad's Guardian newspaper says there has been no statement from the company and attempts yesterday to reach CL Financial Chairman, Gerald Yetming, were unsuccessful.
The assets being sold by CL Financial consist of Lascelles deMercado’s spirits business, led by its rum range, including Appleton Estate, Appleton Special/White, Wray & Nephew and Coruba, as well as a local distribution company.
The former PNM administration in Trinidad took control of CL Financial in June 2009 following the collapse of its insurance subsidiary, Clico.
The Campari buyout excludes Lascelles' non-core assets.
These comprise insurance and transportation entities as well as investments.
Trinidad's Guardian newspaper says CL Financial is looking to divest these assets separately.
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