Monthly Economic Review- August 2017
Monthly Economic Review - August 2017
Mayberry rejects Berger offer
On July 24, 2017, Ansa Coating International Limited (ACI) purchased 100 per cent of shareholdings in Lewis Berger (Overseas Holdings) Limited (“LBOH Acquisition”). As a result of this acquisition, Ansa indirectly holds 109,332,222 ordinary shares in Berger Paints Jamaica Limited (BRG), which represents 51.01 per cent of the shares in issue. As the majority shareholder, ACI has made a mandatory offer pursuant to section 19 of the Rules Governing Take-Overs and Mergers in the Jamaica Stock Exchange’s (JSE) Rule Book, to purchase the remaining BGR shares on the market. The company has offered to purchase all remaining BRG shares at
Gas Price Movement September 21, 2017
Brent Oil Brent oil prices increased by 2.05%, as prices increased this week. Oil traded on September 21, 2017 at a price of 56.29 (US$/ barrel). Petrojam prices 87 Octane prices declined week over week, by 0.94% . Additionally 90 Octane declined by 0.92% week over week. 87 Octane and 90 Octane opened the year at J$97.32 and J$98.98 respectively and now trades at J$118.62and J$121.46 per litre . Figure 1: Petrojam, U.S. Gulf Coast Conventional Gasoline Regular and Brent Crude Oil 1 Year Price History This Week in Petroleum U.S. oil companies increased liquids production and cash flow