Agos­ti­ni Lim­it­ed (AGL) has an­nounced that it has se­cured the min­i­mum tar­get share­hold­ing nec­es­sary to fa­cil­i­tate its planned ac­qui­si­tion of Pres­tige Hold­ings Ltd (PHL), paving the way for one of the most sig­nif­i­cant cor­po­rate con­sol­i­da­tions in the lo­cal mar­ket in re­cent years.

In a news re­lease yes­ter­day, Agos­ti­ni con­firmed it has ac­quired 90 per cent of all PHL shares not held by Vic­tor E Mout­tet Ltd (VEML) and its af­fil­i­ates or as­so­ciates at the time of the of­fer.

This thresh­old rep­re­sents 96.9 per cent of all is­sued and out­stand­ing shares in PHL.

The re­lease said un­der the terms of the of­fer, which had been ex­tend­ed to Tues­day, Oc­to­ber 21, 2025, to al­low for the sat­is­fac­tion of all con­di­tions, PHL share­hold­ers will re­ceive one Agos­ti­ni share for every 4.8 PHL shares held.

With the min­i­mum tar­get share­hold­ing now achieved, the on­ly re­main­ing hur­dle for the trans­ac­tion is the re­ceipt of fi­nal reg­u­la­to­ry ap­provals, AGL stat­ed.

Com­ment­ing on the de­vel­op­ment, Bar­ry Davis, Group CEO of Agos­ti­ni Ltd, ex­pressed grat­i­tude to share­hold­ers for their sup­port and con­fi­dence in the group’s vi­sion.

“As Agos­ti­ni marks its 100-year an­niver­sary, achiev­ing this high thresh­old re­quire­ment is a sign that share­hold­ers rec­og­nize the val­ue of our of­fer and the strate­gic align­ment of bring­ing PHL in­to our group,” Davis said.

“It is al­so a tes­ti­mo­ny to the strength of the group and its com­mit­ment to growth while fos­ter­ing re­gion­al part­ner­ships and build­ing sus­tain­able, in­no­v­a­tive busi­ness­es.”

The ac­qui­si­tion of PHL, a lead­ing op­er­a­tor in the quick-ser­vice restau­rant sec­tor and fran­chise hold­er for brands such as KFC, Star­bucks, and TGI Fri­days in T&T, is ex­pect­ed to sig­nif­i­cant­ly ex­pand Agos­ti­ni’s foot­print in the food and hos­pi­tal­i­ty seg­ment.

On the T&T Stock Ex­change on Tues­day, Agos­ti­ni an­nounced the third ex­ten­sion of the clos­ing date of its on­go­ing takeover of­fer for PHL, push­ing the dead­line to Oc­to­ber 21. This fol­lows pre­vi­ous ex­ten­sions in Ju­ly and Au­gust and comes as the com­pa­ny awaits key reg­u­la­to­ry ap­provals, in­clud­ing clear­ance from the Trinidad and To­ba­go Fair Trade Com­mis­sion.

The of­fer, orig­i­nal­ly made in June 2025, in­volves Agos­ti­ni seek­ing to ac­quire up to 62,513,002 com­mon shares in Pres­tige Hold­ings, ap­prox­i­mate­ly 100 per cent of the com­pa­ny’s is­sued and out­stand­ing shares.

Un­der se­cu­ri­ties law, Agos­ti­ni is re­quired to take up and pay for all shares ten­dered and not with­drawn with­in ten days of the clos­ing date, pro­vid­ed that all con­di­tions of the of­fer are met or waived.