jordan buys autobus stake from kuwait firm
Last Updated : GMT 01:59:58
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Last Updated : GMT 01:59:58
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Payment in 10 instalments in a decade

Jordan buys AutoBus stake from Kuwait firm

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Arab Today, arab today Jordan buys AutoBus stake from Kuwait firm

AutoBus from City Group Company
Amman - Arab Today

AutoBus from City Group Company The Jordanian government has entered into an agreement with Kuwaiti public transport firm City Group Company to buy the company's entire stake in the Amman-based AutoBus for $10 million. Under the agreement, the Jordanian government will make the payment in 10 instalments in a decade ($1 million a year) without interest, said Industry, Trade and Supply Minister Hatem Halawani and Finance Minister Umayya Toukan after signing the deal with AutoBus chairman Yagob Sharhan.
City Group had in May 2010 acquired the 51 per cent stake in Autobus through a KD6.2 million ($21.9 million) capital injection.
SOurce: TradeArabia

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