ARVIN KALLOO

ARVIN KALLOO

KALLCO, the construction conglomerate headed by businessman Arvin Kalloo, has sold the majority stake it bought in the Lawrence Duprey-owned MotorOne to a Jamaican general insurance company.

The Sunday Express understands that General Accident Insurance Company Jamaica acquired the stake for about $50 million. In a statement on the sale last week, under the terms of the agreement, General Accident said it acquired a 55 per cent stake in Motor One with the remaining 45 per cent of the shares acquired by Micon Marketing Ltd.

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