Mark Titus, Business Reporter

An Italian firm has bid for Jamaica's largest sugar factory and its holdings, the Frome Sugar Estate, well-placed sources tell Sunday Business.

Additionally, at least three Jamaican firms have indicated interest in acquiring assets of the Sugar Company of Jamaica (SCJ) - in some cases partnering with other interests.

Agriculture Minister Dr Christopher Tufton said a week ago that 14 companies were interested in pieces of the SCJ assets.

He told Sunday Business last week that some of those companies had collaborated on proposals, but said he would not disclose the number or the identity of the parties without Cabinet approval, as it might compromise the process.

Mixture of interests

"The 14 is a mix of local and international interests, as well as groups that have made joint bids," said Tufton.

Still, Peter McConnell is already on record saying he was going after the Innswood Estate in St Catherine.

And Sunday Business sources say bid proposals are under consideration from Seprod and an unidentified partner, as well as companies in the Lascelles deMercado group farm/property manager F. M. Jones.

Seprod's Byron Thompson, when contacted for comment, said he could not speak immediately, as did managing director Dr Richard Jones of F.M. Jones, a company with property spread across different parishes.

Acquiring sugar assets

Efforts to reach Lascelles were unsuccessful, but the company said months ago it was likely it would make a second try at acquiring sugar assets, saying then a decision would have been made by the board.

According to our sources, the Italians have already submitted a proposal for the takeover of Frome sugar factory in Westmoreland; Seprod has partnered with an unnamed group on a planned bid for Duckenfield in St Thomas; and the Husseys and Lascelles are interested in Trelawny's Long Pond and Hampden Estates.

Appleton Estates, which is owned by Lascelles subsidiary Wray & Nephew Limited, is also said to be interested in Moneymusk in Clarendon.

The assets of the loss-making SCJ were put back on the market at midnight January 31 after selected Brazilian purchaser InfinityBio Energy failed to meet payment requirements in order to close the purchase deal.

The Government has now broken up the assets into packages in order to secure early purchase agreements, but has still stated a willingness to sell the assets as one package.

mark.titus@gleanerjm.com