• Jamaica Observer: Petcom sold for J$2.3 billion

    KINGSTON, Jamaica – The Development Bank of Jamaica (DBJ) announced today, May 2, that Petroleum Company of Jamaica Limited (Petcom) a subsidiary of the Petroleum Corporation of Jamaica (PCJ) has been sold to Phoenix Fuels  and Accessories Limited for US$19 million (J$2.3 billion). The operation includes 24 Petcom-branded service stations and 14 liquid petroleum gas-filling […]

  • Jamaica Gleaner: DBJ Sells Petcom For J$2.3 Billion

    Over the next 90 days, Petroleum Marketing outfit Phoenix Fuels and Accessories has to come up with US$19 million (J$2.3 billion) to close the deal on the sale of the Petroleum Company of Jamaica (PETCOM). The development comes after Phoenix signed an agreement with the Development Bank of Jamaica following nearly six months of negotiations. […]

  • Jamaica Observer: Sterling Asset, Greystone Equity among new shareholders in Hardware & Lumber

    KINGSTON, Jamaica – GraceKennedy had earlier in the year said it was selling its stake in Hardware and Lumber (H&L) to focus its attention on its core food and financial services business. On Wednesday Group CEO of GraceKennedy Limited Don Wehby announced the completion of the sale of its shares to Argyle, which he said […]

  • Jamaica Gleaner: Grace Concludes Shares Sale In Hardware & Lumber

    Local conglomerate GraceKennedy Limited said it has completed the sale of its shares in the Spanish Town Road, Kingston headquartered Hardware & Lumber Limited (H&L) to purchaser Argyle Industries Inc. Argyle, a St. Lucian company, is a special purpose vehicle incorporated for the purposes of acquiring and holding the investor’s equity interests in Hardware & […]

  • Jamaica Gleaner: Johnson’s Petroleum Buying Unipet

    Johnson’s Petroleum emerged preferred buyer of rival United Petroleum – Unipet – on January 28 and the parties now say they expect to finalise the deal by the end of this month. The bid price was not disclosed, but Lynford Johnson, owner and chairman of Johnson’s Petroleum Holdings Limited, says he will be financing the […]

  • Jamaica Observer: Argyle issues tender for 100% of Hardware & Lumber shares

    KINGSTON, Jamaica – Marcus Richards, executive vice-chairman of Greystone Capital Partners Limited and spokesperson for Argyle Industries Inc, the special purpose vehicle which was formed to hold the shares of investors who purchased the holdings of GraceKenndey Limited (GK) in Hardware & Lumber (H&L) in December, said Monday that the company is aiming to gain […]

  • Jamaica Gleaner: GK Capital Targeting Media, Energy, BPO For Investment

    GraceKennedy Limited plans to tap into new areas of business previously unexplored by the conglomerate, but will mostly do so as an investor through its private equity/ investment advisory arm, GK Capital, and not as an operating partner. GracKennedy group CEO and chairman of GK Capital management Limited, Don Wehby, says the investment company will […]

  • Jamaica Observer: Double listing on the JSE Double listing on the JSE

    Having raised their respective targets from their IPOs in December and met other requirements of the Jamaica Stock Exchange (JSE), the air conditioning and energy solutions company CAC alongside managed IT services tTech were listed on the Junior market of the JSE on Thursday January 7. It is the first simultaneous listing for the JSE. […]

  • Jamaica Observer: Hardware & Lumber shares sold for close to $1b

    KINGSTON, Jamaica – On the penultimate day of the year, ownership in Hardware & Lumber Ltd (H&L) has apparently changed hands with the sale of shares numbering 47,076,054 units or 57 per cent of the company on the Jamaica Stock Exchange. The large trade amounted to over 90 per cent of market volume. The share […]

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