Bmda: Bacardi preparing for IPOs

The chairman of Bacardi Ltd. yesterday said he was happy with the outcome of a shareholder vote which could potentially take the power behind the company out of the family’s hands for the first time in over 150 years.

Chairman Ruben Rodriguez yesterday told The Royal Gazette that they had secured over two thirds of the votes needed to implement change – but no date or decision had been set to float.

This vote, of approximately 600 Bacardi family members who own 23.5 million shares in the global drinks company, is the second phase of a three-part process which was started in May last year.