Saint Lucia Distillers Limited has been sold to a French group called GBH Groupe Bernard Hayot, sources have told the Times.
The sale price is said to be 37 million US dollars, according to the sources, who revealed that the deal was sealed last week with the “greatest discretion”.
Saint Lucia Distillers belonged to CLICO Holdings and thousands of policy holders are awaiting to be compensated for the loss of their savings after CLICO went under six years ago.
In October last year the opposition United Workers Party (UWP) had reported being informed that Saint Lucia Distillers Limited would have been sold.
At the time the UWP had called on the government of St Lucia to move with haste to ensure that Saint Lucians owed by CLICO receive their just rewards from the proposed sale.
The UWP had said that considering that CLICO may not have any other substantial assets in Saint Lucia, there may not be any more hope to recover any part of their life long earnings from the failed company.