PUERTO RICO: Bacardi, the world's largest rum distiller

0 Comments | Caribbean Update, July, 1992

Bacardi, the world's largest rum distiller, has received permission from the U.S. Securities and Exchange Commission to take the company private. This ends a battle, started in 1987, that caused a legal and family schism among the Bacardis over the status of the corporation, with assets exceeding $3 billion.

Four out of five Bacardi companies, including Bacardi Corp. in Catano, will fall under a new umbrella corporation to be known as Bacardi Ltd., which will be based in Bermuda.