Belize Sugar Industry sale close to completion

The sale of the Belize Sugar Industries (B.S.I.) to American Sugar Refining (A.S.R.) is about to materialize. In an update to that story, B.S.I. reports that meetings were held in mid-July with representatives of A.S.R. Management to advance final negotiations on key investment documents, principally the Subscription Deed (purchase agreement) and the Shareholders’ Agreement.  Agreement between B.S.I. and A.S.R. has now been reached on all commercial matters and legal documentation with respect to the Subscription Deed and the related approvals from existing shareholders in B.S.I. have been secured. Both parties signed the Subscription Deed documentation on August twenty-third and the sale is expected to be completed in a month’s time.