Monumental merger: JP Group, PanJam to merge assets
Jamaica Producers Group Limited (JP Group) and PanJam Investment Limited have announced a monumental agreement which will see the amalgamation of the asset bases of both businesses, valuing more than $100 billion, in what is one of Jamaica's largest-ever partnerships.
Details of the agreement were outlined in a joint release on the Jamaica Stock Exchange's (JSE) website on Monday, which stated that PanJam will acquire the operating assets of the JP Group in exchange for a 34.5 per cent stake. PanJam will be renamed the Pan Jamaica Group Limited while the JP Group will become the single largest shareholder in PanJam with its shares becoming its sole principal operating asset.
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