Barbados willing to divest some of its LIAT shares

The government of Barbados has agreed to sell “a significant portion” of its 49 percent interest in the cash-strapped regional airline, LIAT.

Prime Minister Gaston Browne has confirmed receipt of a letter from Barbados’ Prime Minister Mia Mottley expressing a willingness to sell a portion of that country’s shares, but retaining at least 10 percent.

PM Browne made the announcement on his radio station on the weekend and in a subsequent interview with OBSERVER media on Sunday.

The nation’s leader said the shares from Barbados will add to the 34 percent shares which Antigua and Barbuda currently owns in the regional carrier and while that may place the twin island state in a majority position, the intention is to ensure that more individuals are able to invest in the carrier.

“I am not to sure what the ongoing negotiating would result in, whether or not our shares will increase by 10, 15 or 20 percent, I do not want to anticipate the final outcome of the negotiations.

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