The government today officially signed off on its divestment of Caymanas Park.
Caymanas Track Limited, CTL Board Chairman, Danville Walker and Supreme Ventures Limited Chairman, Paul Hoo, inked the deal.
Supreme Ventures are the new owners of CTL.
The signing ceremony took place this afternoon at the Finance Ministry’s Heroes Circle, headquarters.
Finance Minister, Audley Shaw, addressed the ceremony.
Mr. Shaw says the divestment deal is a historic occasion and a ‘win-win situation’ for all parties.
He says since the 1980s, there’ve been five unsuccessful attempts to divest Caymanas Park.
Supreme Ventures is expected to take formal control of the Caymanas Park Race Track on Tuesday.
A $200-million redundancy package has been set aside for CTL workers.
Supreme Ventures had indicated that the services of the majority of those made redundant will be re-engaged.
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