Uncertainties over Infinity

The Brazilian-based company, which is expected to buy Jamaica’s sugar assets, says it cannot guarantee that the transaction will take place.



The deadline expires tomorrow for the deal to be signed.



In its 2008 company results Infinity Bio Energy said although it was advancing with the deal and expects to close it in the near term there can be no assurance that it will be executed.



It also says it continues to work with Morgan Stanley and other financial institutions to access financing but there is no certainty that it will get the money.



There had been speculation the Infinity was having difficulties raising the money to buy the sugar assets.



The Government said it was informed that Infinity had overcome the challenges.



Infinity says its revenue for the six-month period to September 30 this year was US$90.41 million.



This compares with $56.85 million for the period before.



Infinity says despite the increase in revenue, it was significantly impacted by delays in the delivery of equipment, which affected production.