Gov’t received above market price for its Guyana Stockfeeds shares

Dear Editor,

Contrary to uninformed comments circulating in the press the Government of Guyana received the highest price possible for its shareholding in Guyana Stockfeeds Inc.

At $25 per share it is way over the $15 I was initially prepared to offer. It is way over the local stock exchange last sale price. The total value for these shares was more than what I paid for 35% of the company when I first took over its management.  The fact that no other buyer made any bid during an open tender means that no one was interested in a minority stake in the company and that its value to a rational buyer was not there.

Regardless of what valuation was done and by whom means nothing without a willing buyer.

I am not affiliated with any political party, I received no favour from the Government, all negotiations were above board and at arm’s length. All due process was followed. The Government must be congratulated for negotiating this price on behalf of all Guyanese.

This is in stark contrast to the fire sale prices at which state assets were sold to cronies and friends under the former administration.

Yours faithfully,

Robert Badal

Around the Web

Comments