Gov’t sells Stockfeeds shares to Robert Badal

The Government has agreed to the sale of it’s shares in Guyana Stockfeeds Limited to the majority shareholder Robert Badal.

The Government’s shares, held by its asset holding and investment arm NICIL, amounted to 5, 437, or 6.7 percent of total shares.

Badal was the only one to respond to advertisements for Expressions of Interests to buy the shares, Minister of State Joseph Harmon stated Friday.

As a result, the Government approved the sale and authorised NICIL to complete the transaction.

The sale price was $25 per share.

Guyana Stockfeeds Limited was established in the 1960s to supply animal feed to Guyana’s livestock sector.

The company was nationalised in 1975 but was put back into private hands in the late 1990s.

The main facilities are located at Farm, East Bank Demerara.