Dolphin Cove sale in doubt as majority owner says deal unlikely to close

KINGSTON, Jamaica —The sale of World of Dolphins Inc’s 79.99 per cent stake in Dolphin Cove Limited is in doubt, after the majority shareholder told the board it does not expect Global Attractions Limited (GAL) to complete the acquisition.

Global Attractions previously signed a share purchase agreement (SPA) with World of Dolphins on July 9 to acquire its entire ownership in Dolphin Cove, a Junior Market company listed on the Jamaica Stock Exchange (JSE). The sale was conditional on certain conditions, including the refinancing of Dolphin Cove’s existing loan facility with Sagicor Bank Jamaica Limited.

“The board was informed by Mr Strom that WoD [World of Dolphins] does not expect the acquisition to be completed,” the Dolphin Cove disclosure stated on Wednesday, October 28.