Prime minister threatens compulsory acquisition of Scotiabank Antigua

Compulsory acquisition is one of the measures being considered by the Prime Minister, Gaston Browne, as he continues to demand that the owners of Scotiabank revisit the sale of the Antigua branch to Republic Financial Holdings Limited of Trinidad and Tobago.
His latest threat, made on Saturday on his radio station, Pointe FM, comes days before a planned meeting between him and officials from the two banking institutions.
And, it comes about a month after he threatened not to sign a vesting order, which he maintains is required to concretise the sale.
“We are using that vesting order to literally negotiate a position in which the local entities should be given a first preference. And, as I said earlier, we also have the option of compulsory acquisition if they choose to fight us,” the PM said. Read More….

You might also like