Agos­ti­ni has ex­tend­ed the dead­line of its of­fer to ac­quire Pres­tige Hold­ings Lim­it­ed (PHL) for a sec­ond time.

In a no­tice post­ed in lo­cal news­pa­pers and the Trinidad and To­ba­go Stock Ex­change yes­ter­day, Agos­ti­ni said, “The of­fer­or has elect­ed to fur­ther ex­tend the clos­ing date to Sep­tem­ber 9, 2025 to al­low fur­ther time for share­hold­ers of the com­pa­ny to par­tic­i­pate in the of­fer and to await all re­quired reg­u­la­to­ry ap­provals in­clud­ing the ap­proval of the merg­er ap­pli­ca­tion made to the Trinidad and To­ba­go Fair Trad­ing Com­mis­sion.”

The re­lease fur­ther stat­ed, “The of­fer will there­fore re­main open for ac­cep­tance un­til, but not lat­er than, the 9th day of Sep­tem­ber 2025 at 4:00PM (the fur­ther ex­tend­ed clos­ing date).”

The no­tice stat­ed that there have been no changes to the terms and con­di­tions of the of­fer.

Agos­ti­ni an­nounced the plan to ac­quire Pres­tige on June 17, 2025, via a share swap deal. The deal was ini­tial­ly set to close on Ju­ly 21, 2025; how­ev­er, on that date, the com­pa­ny is­sued an ini­tial ex­ten­sion to Au­gust 5.

Un­der the deal, Agos­ti­ni Lim­it­ed is of­fer­ing to ac­quire PHL shares at an ex­change ra­tio of one Agos­ti­ni share for every 4.8 PHL shares, in ac­cor­dance with the of­fer and take-over bid cir­cu­lar ini­tial­ly sent on June 17, 2025, and the ac­com­pa­ny­ing er­ra­ta is­sued on Ju­ly 3, 2025.

Chris­t­ian Mout­tet, who is the chair­man of both Agos­ti­ni and Pres­tige Hold­ings Ltd, re­port­ed­ly re­cused him­self from all dis­cus­sions and/or meet­ings re­lat­ed to the trans­ac­tion.

In­clud­ing com­pa­nies that are con­nect­ed par­ties, Vic­tor E Mout­tet Ltd has a to­tal in­ter­est in Pres­tige Hold­ings of 69.2 per cent. Vic­tor E Mout­tet Ltd al­so owns 58.6 per cent of Agos­ti­ni.

Agos­ti­ni is a 100-year-old, pub­licly trad­ed com­pa­ny that op­er­ates across three main sec­tors: phar­ma­ceu­ti­cal and health­care, con­sumer prod­ucts and en­er­gy and in­dus­tri­al, with ma­jor re­tail.

Agos­ti­ni op­er­a­tions span more than ten re­gion­al mar­kets, mak­ing it one of the largest dis­tri­b­u­tion com­pa­nies with­in the re­gion.

In its ini­tial an­nounce­ment of the deal, the com­pa­ny said the ac­qui­si­tion of Pres­tige would have sig­nif­i­cant ben­e­fits for both com­pa­nies.

Pres­tige has 136 restau­rants across T&T and the Caribbean un­der glob­al­ly recog­nised brands, in­clud­ing KFC, Piz­za Hut, TGI Fri­days, Sub­way, and Star­bucks, em­ploy­ing over 3,300 staff.