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Seaboard acquires shares in Kingston Wharves

Seaboard Corporation and the Jamaica Producers Group have acquired a combined 32.59 per cent stake in Kingston Wharves Ltd in a US$3 billion deal. Seaboard has acquired a 21 per cent share, while Jamaica producers has increased its total share from 30 to 42 per cent. Seaboard is now the second largest shareholder behind Jamaica producers, while the operational control of the terminal remains unchanged. The shares became available after the National Commercial Bank Jamaica and its subsidiary NCB Capital Markets decided to divest non-core holdings. Kingston Wharves handled around 300,000 containers in 2013, worth some US$4 billion in revenue.

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