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Article: TCL GETS CONTROLLING INTEREST IN CARIB CEMENT.
- Article from:
- Caribbean Update
- Article date:
- May 1, 1999
CopyrightCOPYRIGHT 1999 Caribbean Update, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Trinidad Cement Ltd. (TCL) has taken a majority stake in Jamaica's Caribbean Cement Co. Jamaica Prime Minister Percival Patterson announced that the Trinidad & Tobago company had paid US$29.4 million for the Government's 43.5% share in Carib Cement, reports CANA (March 27, 1999):
TCL, which had previously owned 10% of Carib Cement, now has 53.5% of the shares but plans to reduce that share to less than 50% by selling part of its holdings, possibly to another Trinidad & Tobago company, Royal Bank Trinidad Trust. The purchase of Carib Cement gives TCL, which recently listed on the Jamaica Stock Exchange, its third cement plant in the Caribbean following its ...