Government has agreed to accept around $136,000 for the sale of National Industrial and Commercial Investments Limited’s (NICIL) shares in Guyana Stockfeeds Limited (GLS) to the entity’s Chief Executive Officer, Robert Badal, who is also the majority shareholder, State Minister Joseph Harmon disclosed on Friday.
“The offer to purchase the shares by Mr. Badal, the majority shareholder in Guyana Stockfeeds Inc was the only one received in response to two separate requests for proposals, the last being published in the four daily newspapers over the period October 29th to December 7th, 2017,” he said.
Speaking during a post-cabinet press briefing, Harmon told reporters that cabinet gave approval for the sale of the 6.7% or 5437 of ordinary shares that state holding company has in GSL. Badal he said will pay $25 per share.
