The Symonette Group is a privately held investment company. <\/p>\n
Media reports said Devcon decided “to keep its construction unit after a letter of intent to sell the assets to a private equity group expired.”<\/p>\n
According to Associated Press reports, the company released a statement which said, “After numerous meetings with representatives of the private investment group, it became apparent a transaction could not be structured that would be in the company’s best interest.” <\/p>\n
Devcon made an agreement in principle in June to sell the construction unit for $12.2 million to The Symonette Group. <\/p>\n
The transaction would have been part of Devcon’s transformation into a security services business, the AP reported.<\/p>\n
Devcon also indicated in that statement that it had no intention of resuming talks with The Bahamas-based group and said it intended to own and operated the construction unit “in the foreseeable future.” <\/p>\n
Up to press time no representatives from The Symonette Group could be contacted for comment.<\/p>\n
The Nassau Guardian<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"
Florida-based Company Devcon International, which provides electronic security services, announced yesterday that it would no longer sell a construction project to The Symonette Group based in The Bahamas.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[],"tags":[],"class_list":["post-243199","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/243199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=243199"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/243199\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=243199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=243199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=243199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}