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Court sanctions merger of RJRGLEANER Group and 1834 Investments

The merger of the RJRGLEANER Communications Group and 1834 Investments is now official.
 
The court order sanctioning the Scheme of Arrangement to merge the RJRGLEANER Group and 1834 Investment was submitted to the Companies Office Of Jamaica on Monday.
 
That means all assets and liabilities of 1834 investments have been assumed by the RJRGLEANER Communications Group.
 
Shareholders of 1834 Investments agreed on August 10 to the merger proposal.
 
Investors who elected to receive shares in RJRGLEANER will have them issued within the next week.
 
Those who opted for cash will receive payment within the next two weeks.
 
The merger brings $1.5 billion in cash and assets into the group.
 
The RJRGLEANER Communications Group says it plans to use the funds for aspects of its digital switchover and other projects.
 


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