Tonight on CBC TV we had a financial expert talking about the impact of the proposed BS&T Neal & Massey merger.
“Investment analyst Jepter Ince believes the future of the Pine Hill Dairy will come under severe scrutiny if Barbados Shipping and Trading merges with Neal and Massy Holdings Ltd.
He made the comments on a pre-recording on this week’s current affairs programme, ‘The People’s Business”, which examines the recent mergers in the region.
“We must remember that BS&T now has 20 companies bringing to this merger across two distribution channels, retail and financial. Decisions are going to be made whether or not it is financially feasible to bring milk from Trinidad and close Pine Hill. Is it going to be financially feasible to dispose of the assets within Banks Breweries or would it make sense to shut our production plant down, expand Pine Hill or turn to powdered milk”
Of course Mr. Ince neglects on minor fact. BS&T is NOT the majority shareholder in Banks Holdings! It’s an associated company (much like Almond Beach Hotels). So BS&T/Neal & Massey would not be able to just say to close down PHD, which is majority owned by Banks Holdings, of which BS&T only owns 29%.
For that matter they wouldn’t be able to “dispose of the assets of Banks Holdings” either!
You would think that a financial advisor would check his facts before going on National TV to alarm people.