Baha Mar's sale to Chow Tai Fook Enterprises (CTFE) was completed by the December 1 closing deadline, the Bahamas Tribune reported. Meeting the December 1 deadline was critical, as failure to hit it would have seen the tax breaks and incentives — originally granted by the former Christie administration to the China Export-Import Bank — fall away. The previously-sealed 'Heads of Terms' for Baha Mar's construction completion, disclosed earlier this year, revealed that CTFE's purchase closing deadline had been extended to December 1, 2017, from November 22, 2017. This was done via a letter signed by Creswell Sturrup, then-permanent secretary in the Prime Minister's Office, which was attached as an amendment to the 'Heads of Terms.'
