Thursday, July 31, 2008
NCB Toasts Angostura & Lascelles
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| Symbolic presentation of Angostura 1919 Rum to NCB from CL Financial L-R - Michael Carballo - Executive Director, CL Financial; Lawrence Duprey – Chairman, CL Financial; Patrick Hylton – Group Managing Director, NCB; Marjorie Seeberan – General Manager, NCB Corporate Banking Division and Christopher Williams – Managing Director, NCB Capital Markets Limited. |
The NCB Corporate Banking Division and NCB Capital Markets Ltd. Were key players in CL Financial Group’s (owner of the world famous Angostura Brand) acquisition of a controlling stake in Lascelles de Mercado. The NCB team provided technical and financial support leading a syndicate of Jamaican financial institutions to close the deal. The Jamaican economy is expected to receive a significant boost as over US$600 Million Dollars was paid to shareholders of Lascelles de Mercado.
The financing associated with the historic transaction was a successful regional effort, noting that other members of the NCB-led Jamaica syndicate included First Global Bank and Pan Caribbean Financial Services. Citigroup arranged a component of the financing in the Trinidad and Tobago market.
The transaction demonstrates the regional integration taking place with the combination of a major Trinidad based conglomerate with one of Jamaica’s most respected companies. The deal bodes well for future corporate deals as the majority of the funding was raised within the Caribbean.
The multi-million dollar deal was finalised on July 28th, and was also marked by a celebratory cocktail hosted by NCB at its Wellness and Recreation Centre on July 29, 2008. The event saw one of the first serving of Angostura 1919 rum, one of Angostura’s most popular spirits, on Jamaican soil.
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