DOLPHIN Cove Limited’s controlling stake is among a package of Caribbean assets expected to generate approximately US$22 million in combined net proceeds, providing the first financial marker for the Jamaican takeover but leaving the price assigned to the local company undisclosed.

An August 11 filing in the United States bankruptcy proceedings of Dolphin Cove’s ultimate parent said asset purchase agreements were signed after more than six months of negotiations.

The agreements cover assets in the Dominican Republic and equity interests in businesses operating in Jamaica, the Cayman Islands, and St Kitts and Nevis. The transactions are expected to close around the effective date of the parent company’s Chapter 11 liquidation plan, currently targeted for October 28, subject to court approval and other conditions.