The Jamaica Broilers Group Limited has advised that it has entered into an agreement with West Indies Petroleum
Limited for the sale of its wholly owned subsidiary JB Terminal (Port Esquivel) Limited (formerly JB Ethanol Limited) and its shares in ERI Services (St. Lucia) Limited for a cash consideration of US$4 million. As part of the deal West Indies Petroleum Limited will also assume liabilities of US$18.5 million due to Jamaica Broilers Group Limited. JB Terminal (Port Esquivel) Limited owns and operates the ethanol and terminal facilities at Port Esquivel, St. Catherine. The transaction is expected to be completed during the first quarter of the Company`s financial year.
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