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ANSA McAL 1881

Dear BHL Shareholder 

I am writing to update you on the status of ANSA Mc AL’s bid to acquire Banks Holdings Limited (BHL).


We would like to emphasise that we remain committed to acquiring BHL, and we have reserved our right to pursue our legal options to overcome the clause that is disadvantageous to shareholders other than SLU/AmBev.

Now that the injunction is lifted, we will continue to participate vigorously in the bidding process. We remind shareholders that our unconditional $6 offer to all shareholders stands and remains the highest offer in the market.


ANSA Mc AL has had a strategic interest in ownership of BHL for over a decade, and during that time made attempts to increase our shareholding in the company, which were not entertained. The recent takeover bid initiated by AmBev of $4 in October, gave us the opportunity we needed to officially bid for the acquisition of BHL.

We at ANSA Mc AL guarantee shareholders that, if successful with our bid, we will protect the financial health of BHL and its brands It will be in our strategic interest to ensure that BHL and the iconic Banks Beer brand thrive and you can be assured that we have the capacity to do so.


We believe that ANSA Mc AL is better for Barbados, better for Banks, given the synergies with our beverage portfolio and our plans to grow the brand. Once we acquire BHL, the Banks Beer brand will be the among top three brands in our brewery portfolio and remain our flagship brand in Barbados. If AmBev acquires BHL, the Banks brand will be one among countless big international brands.


ANSA Mc AL also has an excellent track record in acquisitions of maintaining local management and culture and growing the companies and brands that we acquire, as is evident with Brydens here in Barbados and with Stag, Mackeson and Sissons Paints brands among others in the region.

BHL will remain a standalone business with its headquarters unchanged. We intend to utilize Barbados’ location, quality of staff and management expertise to expand the Barbados based production entities to become Regional Champions.
We look forward to your support as a shareholder to keep Banks the iconic Barbados brand,that it is.

To learn more, please visit

our website: www.ansamcal.com or call our broker who will answer your questions:

RepublRepublic Finance and Trust (Barbados) Corporation Mezzanine Floor, Republic Bank , Broad Broad Street, Bridgetown BB11000, Tel: 431 1262 and Fax: 4362671

Thank you for your attention.

Yours sincerely

Nicholas Mouttet

Nicholas V. Mouttet



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