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Govt. believes Le Meridien sale on
Downpayment already made – Dr Luncheon
Dr. Roger Luncheon
The Government has received information that Le Meridien may have been already sold. According to Head of the Presidential Secretariat, Dr. Roger Luncheon, the administration has been reliably informed that the down payment on the hotel has already been made, and that the sale agreement is currently being enforced.
Dr. Luncheon told members of the media on Thursday that the Government is worried because, to date, it has not been a party to the negotiating process of the deal, despite the fact that the administration has a four per cent share in the hotel. These shares are being held by the National Insurance Scheme.
“We don’t know what the nature of the deal is…Is it a sellout? Did they trade the shares? We don’t know…we have no clue, because we were kept out, not by omission. We were deliberately kept out of this engagement,” Dr Luncheon contended.
He added that the Government has resorted to making its dismay and disapproval of the mechanism heard to the local representatives and to the majority shareholders.
The administration now anticipates that, flowing from its registered opposition to the deal, it would be more informed about the engagement and be in a better position to defend and protect its minority shareholders status and holdings.
Recently, Kaieteur News was reliably informed that the investors of Le Meridien were considering a sale of the hotel when the franchise contract expires in October.
Reports suggest that the investors are currently in discussions with potential buyers interested in the hotel, with a sale likely before year end.
This newspaper has already confirmed that the investors are also contemplating the re-branding of Le Meridien, reverting to Pegasus.
The hotel’s General Manager, Bert Plas, when contacted, had said he was unaware of any move to sell the hotel, but had indicated that it can be sold at anytime.
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