RCI St. Lucia
posted on January 07, 2014 07:37
The Lucian Peoples Movement has questioned the reason for what is being described as a surprise a decision to sell controlling shares of local supermarket chain Super J to a Trinidadian conglomerate
St Lucians learned of the move which took effect on January 1st 2014, just 6 months after the supermarket monopoly acquired its competitors GL food market.
Mr Melanius Alphonse says while in the broader scope of things, it is not strange that a company sells its shares or makes strategic moves, it is worthy of inquiry what is the bigger strategy that influenced the handover of a lucrative ‘monopoly’ of local ownership to a Neal and Massy.
While members of the business community and individual St Lucians continue to express fears about the financial climate, Mr Alphonse says there may be a silver lining around the dark cloud.
Mr Alphonse notes that despite what appears several questions have been left unanswered, including, what is the value of that transaction? And what are the terms, conditions and clauses of that sale transaction?