Argentine tycoon in hostile bid for Falkland Islands’ biggest landowner just hours before anniversary of war
The 165 year old Falkland Islands Company received the aggressive buyout offer late on Friday evening from the Dolphin Fund
AN Argie billionaire launched a hostile takeover bid for the Falkland Islands biggest firm — just hours before the 35th anniversary of the 1982 War.
The 165 year old Falkland Islands Company — the biggest property owner on South Atlantic archipelago — received the aggressive buyout offer late on Friday evening from the Dolphin Fund.
The investment firm is owned property tycoon Eduardo Elsztain — reportedly Argentina’s richest man.
Shareholders have branded such a deal “a hazard” and it has sparked uproar amongst the 3,000 islanders — many who are employed by the historic “institution.”
FIC is the island’s largest jobs provider through through transport, fishing, shops and property.
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Now three and half decades after Margaret Thatcher recaptured the Falkland Islands from an Argentine invasion force, Tory MPs have called on Theresa May to step in to shut a “backdoor” takeover.
Andrew Rosindell said it “would be absolutely right for the British Government — in conjunction with the Falkland Islands Government — to block any such deal.”
The Romford MP went on: “What must be clear is there can be no backdoor route to the Argentines having any control over the Falkland Islands — and if that means stepping in, then so be it.”
Late on Friday evening the Dolphin Fund said it is considering making a 333.3p a share bid offer for the company.
The offer trumped a bid made by rival firm Staunton, who offered 300p-a-share last week.
Dolphin has yet to make the offer formal but has repeatedly indicated its interest — but the Falkland Islands Company rejected the approach as “unwelcome” and a “hazard” to their company.
They said any further engagement with Dolphin as “inappropriate and damaging”.
Last night they hit out: “Given recent history and the sensitivities surrounding the Falkland Islands, there is real and understandable concern in Stanley about any Argentinian backed attempt to own assets or to exercise control over businesses in the Islands.”
They added: “The fact that The Falkland Islands Company is an iconic institution, and has been part of the cultural fabric of the Islands for over 165 years, has only heightened the concerns of politicians and local people.”
But Dolphin hit back claim it was “determined to pursue its plans”.
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