CL Financial sells Jamaican rum maker Lascelles – Appleton Estate
by Poor RRRicky
The dilemma faced these days not only by CL Financial investors, but by all investors, is that we don’t know who to trust anymore. Recent history is rife with leaders, government institutions and businesses that stole from ordinary people: destroying people, families and lifetimes of work and saving. The CL Financial – CLICO debacle is only one example of many.
As the assets of CL Financial are sold off it is natural to wonder if this is only another method of raping shareholders for their equity. How do we know? Especially when profitable sections of the bankrupt CL Financial are sold, how do we know this isn’t just more of the same going on?
Leroy Parris and Lawrence Duprey are doing alright – their friends in government looked after them. But how do we know that the same government friends aren’t continuing to strip shareholder value under the guise of bankruptcy management?
I don’t trust them anymore. I did once and look where it got me. I just don’t trust them anymore. Can you blame me?
Campari to buy Jamaican rum maker Lascelles
By Antonella Ciancio and Maria Pia Quaglia
MILAN | Mon Sep 3, 2012 7:31am EDT
(Reuters) – Italy’s Gruppo Campari (CPRI.MI), maker of the eponymous red aperitif, is buying Jamaican rum maker Lascelles de Mercado & Co LAS.JS to boost its presence in growing American markets, as sales in recession-hit Italy lose fizz.
Campari, also owner of Glen Grant whisky, said it agreed to buy an 81.4 percent stake from ailing Caribbean state-owned conglomerate CL Financial, valuing the target at $414.8 million, or around 330 million euros, making it Campari’s third-biggest acquisition behind Skyy vodka and Wild Turkey bourbon.
… continue reading this story at Reuters Edition USA: Campari to buy Lascelles spirits unit