Zodiac International Investments, a private company based in Trinidad, is increasing its holdings in Supreme Ventures Limited under a US$40-million deal with partner Intralot SA to be finalised by year end.

Zodiac is acquiring Intralot SA’s 50.05 per cent holding in Intralot Caribbean Ventures Limited, increasing its stake in that company. Intralot Caribbean holds a 49.9 per cent stake in Supreme Ventures, giving Zodiac, a bigger hold on the Jamaican operation as Intralot reduces its Jamaican footprint.

Zodiac’s current holding in Supreme Ventures is 24.95 per cent, but would double once the deal with Intralot closes.

“The deadline agreed for the closing date has been set at 31 December 2017,” stated a notice posted Tuesday, October 3, on the Greek stock exchange regarding the transaction. The announcement comes amid market chatter of a bond that is expected to be issued, either in Jamaica or elsewhere in the region linked to the deal.

Zodiac itself has a history with Supreme Ventures beyond its indirect ownership. In December 2014, the Jamaican gaming company’s board of directors approved a funding facility equivalent of US$5 million to ICE Jamaica Limited, a company that its subsidiary Prime Sports (Jamaica) Limited is partnering with to develop VLT ‘route’ gaming infrastructure.

The arrangement provided that Zodiac International Investments and Holdings Limited serves as principal debtor by means of a charge over its shareholding in Intralot, SVL said at the time.

Intralot SA, a listed company established in 1992, is a leading gaming solutions supplier and operator active in 55 regulated jurisdictions around the globe, with a turnover of

€1.32 billion and workforce of approximately 5,300 employees.

Supreme Ventures turns over $44 billion annually. The stock is currently trading at $11, valuing the company at $29 billion.

On Monday, October 2, a new president & CEO took over the running of the company. Ann-Dawn Young Sang replaced Brian George, who passed away last October. Interim CEO James Morrison resigned from Supreme Ventures on September 30, but will continue to serve the company in a consultative capacity.