The government is buying 51 per cent of the shares in the Kuwaiti-owned Mutakamilah Transportation (AutoBus) Company to improve the Kingdom's public transportation sector, official sources said.
The sources added that 51 per cent of the JD30 million stakes in the Mutakamilah company will go to the Greater Amman Municipality (GAM ), making it the majority shareholder.
The Cabinet decided to buy the shares from the Kuwaiti Citigroup company for $10 million over 10 installments.
GAM currently owns 10 per cent of the shares in AutoBus.
Jordan Times
4 February
