DBJ Receives Bids for Caymanas Track Limited Privatisation

The Development Bank of Jamaica (DBJ) has received Bids from two entities expressing an interest in acquiring the state-run horse racing promotions company, Caymanas Track Limited (CTL).

The bids were received from Caymanas Racing and Entertainment Limited and Supreme Ventures Limited, following the bid opening exercise at the DBJ, on Friday, 18 September 2015.

The Development Bank of Jamaica and the Caymanas Track Limited Enterprise Team (CTLET), which are overseeing the privatisation process on behalf of the Ministry of Finance and Planning, hereby advises that the evaluation of bids has commenced.

It is expected that a preferred bidder will be identified and recommended by the CTLET to the Ministry of Finance and Planning and to Cabinet for approval. It is anticipated that the evaluation will be completed by early November 2015.

The CTL privatisation opportunity was advertised by the DBJ from 12 May 2015, and the bid submission deadline was extended twice from 10 July 2015 to 28 August 2015 and subsequently to 18 September 2015 to accommodate the due diligence of prospective investors.

CTL is Jamaica’s sole horse-racing promotions company, which operates the Caymanas Park Track, situated in Portmore, St. Catherine.