Farsons appears to be
involved in another takeover bid
By Kurt Sansone
Bigger seems to be the buzzword for the Farsons Group. After taking
over Guido Vella Cash & Carry - a wines and spirits business concern
in Qormi - in November last year, the Farsons Group seems to have set
its eyes on another import company.
Well-founded speculation among employees of Qormi-based Law Quintano
Ltd has it that Farsons is engaged in discussions with the import company
in a take-over bid.
Contacted by The Malta Financial and Business Times yesterday, officials
from both companies refused to comment on the speculation. Norman Aquilina,
a director at Law Quintano said "at this stage" there was
"no comment to make."
The reply from Farsons was less enigmatic
with the deputy to the chief executive-marketing, Anthony J. Tabone
saying it was not company policy "to comment on pure speculation
on the market-place."
Law Quintano Co. Ltd belongs to Norman Zammit, a former Malta Development
Corporation chairman, who was also implicated in the theft of precious
art objects in the late nineties and early 2000. According to the Malta
Registry of Companies Law Quintano Co. Ltd is a shareholder in Law Quintano
Food Service Ltd and Law Quintano Holdings Ltd.
The company imports among other food stuffs the renowned Italian dairy
brand, Danone and biscuit brand Jakobs.
Farsons official announcement of the take over of Guido Vella
Cash & Carry on 18 November has had little impact on trading in
Farsons shares on the Malta Stock Exchange. The deal had gone through
after it was cleared by the Office of Fair Trading. The business concern
is being administered as a separate entity alongside Farsons other