Agostini has extended the closing date of its share swap deal to acquire Prestige Holdings Ltd (PHL) for the seventh time.
In a notice posted published in local newspapers and on the Trinidad and Tobago Stock Exchange yesterday, Agosti confirmed the offer had now been extended to May 29, 2026 to await all required regulatory approvals, including the approval of the merger application made to the Trinidad and Tobago Fair Trade Commission.
The offer had previously been extended to Friday, March 6 in January.
The absence of a board at the Fair Trade Commission board was identified as one of the reasons for previous delays. Agostini’s attempt to acquire PHL achieved the required minimum shareholding of 90 per cent in September.
Section 14 (1) of the Fair Trading Act states that “enterprises shall not enter into a merger unless they obtain permission from the Commission where—(i) their assets exceed $50 million and (ii) at least one of the enterprises carries on or intends to carry on business in Trinidad and Tobago.”
As at its 2025 year end on September 30, Agostini’s assetstotalled $4.83 billion
Agostini first proposed the acquisition of PHL in June last year.
Agostini said in June that the deal can lead to cost savings through ordering and purchasing goods in bulk, maximising the current fleet of transportation vehicles by delivering to similar or near-by locations, fully utilising warehouse and storage facilities and combining shared services to lead to a centralised operating system.
In its offer and takeover circular to Prestige Holdings shareholders, Agostini said Prestige Holdings “as part of the Agostini Group, can benefit from synergies in areas such as imports, transportation, warehousing, marketing and other shared services.”
PHL is restaurant management company operating several international franchise chains in Trinidad and Tobago, including KFC, Pizza Hut, Subway, Starbucks, and TGI Friday.
