DBJ receives bids for Caymanas Park privatisation

A preferred bidder for the Caymanas Park racing complex is expected to be identified and recommended by the Caymanas Track Limited Enterprise Team to the Ministry of Finance and Planning and to Cabinet for approval. It is anticipated that the evaluation will be completed by early November 2015.

This follows the submission of  two bids to the  Development Bank of Jamaica (DBJ) from entities expressing an interest in acquiring the state-run horse racing promotions company, Caymanas Track Limited (CTL).

The bids were received from Caymanas Racing and Entertainment Limited and Supreme Ventures Limited, following the bid opening exercise at the DBJ, on Friday, September 18, 2015.

The Development Bank of Jamaica and the Caymanas Track Limited Enterprise Team (CTLET), which are overseeing the privatisation process on behalf of the Ministry of Finance and Planning, have advised  that the evaluation of bids has commenced.

The CTL privatisation opportunity was advertised by the DBJ from May 12,  2015, and the bid submission deadline was extended twice from July 10 to August 28 and subsequently to September 18 to accommodate the due diligence of prospective investors.

CTL is Jamaica’s sole horse-racing promotions company, which operates the Caymanas Park race track situated at Gregory Park in St. Catherine.