Controlling Interest in Barbados’ Lone Power Company, Secured by Emera

When its offer of BDS$25.70 (US$12.85) per share expired on Monday evening (24th Jan), Emera had secured 41.43 percent additional investment in Light and Power Holdings (LPH), the parent company of the sole electric utility operator on the island, Barbados Light & Power Company Limited.

“If the tender and acceptance of all shares is confirmed by the Barbados Stock Exchange as valid, this will increase Emera’s ownership in LPH to 79.74 per cent,” Emera said in a statement.

The company will pay out BDS$183.2 million (US$91.6 million) for the 7,129,269 shares deposited and Emera has indicated that payments will be made to shareholders by Monday 31st January, 2011.

The remaining shares in LPH are primarily held by 1,700 Barbadian shareholder accounts, including the country’s National Insurance Board.


(Content of this article taken from a Caribbean360 report)


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