Bidding closed for Wallenford
Published:Friday | December 2, 2011 | 12:00 AM
Bids for the Wallenford Coffee Company are being scrutinised by a team from the Development Bank of Jamaica with a view to making recommendations to Cabinet, Milverton Reynolds, the bank's managing director, has confirmed.
However, having twice extended the deadline for receipt of tenders to accommodate potential investors, there will be no further extension, Reynolds said.
A meeting of the enterprise team was scheduled to review the proposals last Friday, November 25, but those discussions have been postponed.
"A new meeting date has not been determined as yet," Reynolds said last week, noting, however, that "the bids are currently being analysed with a view to making appropriate recommendations to Cabinet".
He said "information will be released publicly at the appropriate time in keeping with established divestment procedures".
Wallenford is Jamaica's largest processor of Jamaican coffee.