Campari has extended its offer for the LdM

Campari has extended its offer for the LdM

Gruppo Campari has extended the deadline for its US$414.8m offer to take full control of Lascelles deMercado & Co (LdM) to 10 December. 

The Italian group launched its offer to take control of Jamaica-based LdM, parent company of the Appleton Estate and Wray & Nephew rum brands, earlier this month. The original deadline for the deal was today (30 November). 

But in a statement released this morning, Campari said it is extending the deadline until 10 December, without giving a reason. "It should be noted that, as of today, the current percentage of acceptance of the offer is 96.32% of the issued ordinary shares and 97.27% of the issued preferred shares in the capital of Lascelles," the company noted.

The deal was initiated in September when Campari agreed to buy 81.4% of LdM from CL Financial. 

Campari said today it intends to delist LdM shares from the Jamaican Stock Exchange once the deal is concluded. 

Earlier this month, Campari was floated as a potential buyer for Whyte & Mackay if the Scotch whisky business is sold off by owners United Spirts to satisfy regulators over its deal with Diageo.