Trinidad gov't takes over running of CL Financial
PORT OF SPAIN, June 15, Reuters - Trinidad and Tobago's government has taken over running the indebted Caribbean business conglomerate CL Financial (CLF) which owns more than 60 companies worldwide including petrochemicals, real estate and insurance interests, the new chairman said on Monday.
In an agreement between the Finance Ministry and CLF directors, which was backed by a most shareholders, four directors nominated by the government were being appointed to the new board, along with three nominees of shareholders. (Reporting by Linda Hutchinson-Jafar, Editing by Pascal Fletcher)
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