7 News Belize

BSI: Not Ready Yet For final Agreement With Strategic Investor
posted (August 24, 2012)
"Not Ready Yet!"

That's the status of the final investment agreement between BSI and American Sugar Refining, Inc. - which proposes to be its new majority shareholder.

Because public restlessness is building, a release from BSI today says discussions are quote, "advancing well and in accordance with the target timetable."

The release adds that agreement on all commercial matters between BSI and ASR has now been reached. They signed what's known as a Subscription Deed yesterday and it is expected to be completed in a month.

The Prime Minister disclosed earlier this week that one delay has been a Settlement Deed that government has to sign - which would agree to certain concessions from Government. The PM says he has given authorization.

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