Gruppo Campari extends takeover of Lascelles de Mercado

Italy's Gruppo Campari has extended its takeover offer for all outstanding shares of Jamaica based Lascelles de Mercado.

Campari says it will extend the date for shareholders to offer their shares to December 10 after receiving commitments for 96 percent of ordinary shares and 97 percent of preference shares.

The company has said that if it is not successful in getting all the shares it will enact a compulsory takeover provision.

That provision can be implemented when an entity has at least 90 percent of a company's shares.

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