According to the Jamaica Gleaner newspaper, Portland Investment Counsel (PIC) plans to increase its stake in Columbus Communications, the parent of the regional service operator Flow. The report states that PIC will acquire a small shareholding in two companies owned by Columbus majority owner John Risley, namely CBVI Holdings (Barbados) and Clearwater Holdings (Barbados). ‘Columbus is valued close to USD1 billion and Risley owns more than 50% of that. He will be indirectly giving up some portion of that, which could be between 5% and 10% of his holdings,’ said Robert Almeida, managing partner of Portland Private Equity. He went on to stress that PIC was not seeking a controlling interest in Columbus.
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