One of Trinidad and Tobago's largest publicly traded conglomerates has purchased a minority stake in Bahamian Brewery and Beverage Company Limited, according to an ad seen by Guardian Business announcing the buy, which was subject to regulatory approval by the Trinidad and Tobago Stock Exchange.

This paper was not able to obtain a response from Bahamian Brewery on the matter yesterday.

The ad explains: "On November 14, 2022, ANSA McAL entered into a definitive share purchase agreement under which ANSA will acquire a minority interest in the Bahamian Brewery and Beverage Company Limited (BBBCL).

"On April 21, 2023, ANSA received final regulatory approval from The Central Bank of The Bahamas to proceed with the acquisition of an equity interest in BBBCL. Accordingly, all regulatory approvals for the above transaction have now been attained.

"We are therefore pleased to announce that upon completion of the transaction, ANSA McAL Limited will become a proud shareholder of BBBCL."

The brewery suffered $8 million to $10 million in damage from Hurricane Dorian in 2019. It sustained major water damage as storm surge impacted the entire operation, destroying equipment.

About 50 percent of the company's revenue came from the brewery operations as of 2019.

Click here to read more at The Nassau Guardian