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Government approval of the Proposed Share Acquisition by Emera


The Government of The Bahamas today approved the acquisition of the minority shareholdings of ICD Utilities Limited, the part-owner of Grand Bahama Power & Light Company Limited (GBPL), by Emera Caribbean Holdings Limited (ECHL).  This transaction will now vest 100 per cent of the ownership of GBPL in ECHL.

The Government notes that the terms of the buyout of the minority shares held by Bahamians, pursuant to a proposal commenced over a year ago, is a transaction which in all respects exceeds the requirements of Bahamas Company Law... 

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