WHEN THE BARBADOS National Terminal Company Limited (BNTCL) is sold Government is expected to rake in more than double what was speculated as the sale price.
Reliable sources informed the WEEKEND NATION that Sol, owned by Barbadian business mogul Sir Kyffin Simpson (below), is prepared to pay Government US$100 million for BNTCL, a wholly-owned subsidiary of the Barbados National Oil Company Limited (BNOCL).
That offer is US$28 million more than what Sol’s rival Rubis Caribbean was prepared to pay for control of the company.
As questions are raised about the BNOC/Sol deal and its impact on competition in the oil distribution business, the Fair Trading Commission (FTC) on Wednesday confirmed that it would launch an investigating to ensure that there were no breaches of the Fair Competition Act and that the sale was in the interest of consumers. (GE)
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