By Spencer Darlington
No date has yet been set for the start of negotiations for Supreme Ventures Limited to take over the operations of Caymanas Track Limited (CTL).
Three weeks after being publicly advised of Cabinet's approval for the rights to operate CTL, Supreme Ventutes Limited (SVL) is yet to begin negotiations for the formal take-over of the island's sole horse racing promoting company.
A reliable source on Tuesday, informed RJR Sports online that SVL had just received the formal letter from the Development Bank of Jamaica (DBJ), advising the company that it had been selected as the preferred bidder.
RJR Sports online further understands that SVL is now awaiting a schedule from the DBJ for the start of negotiations for the formal take-over of CTL.
It's understood that the period of negotiation is covered by a confidentiality agreement.
President and CEO of SVL Brian George told RJR Sports on the day of the public announcement that his company was expecting the negotiations for the takeover of CTL to take approximately three months.
Supreme Ventures Limited had gotten the nod over Caymanas Racing and Entertainment Limited to operate CTL.
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