Seventeen Bus Operators Join National Bus Company With Government Holding Majority Stake

As previously reported, only 17 of the country’s 30 bus operators have chosen to participate in the National Bus Company. Under the ownership structure, the participating operators will collectively hold 39 percent of the company, the Government will retain a 45 percent stake, and the remaining 15 percent will be owned by institutional investors. Accountant Emil Pinelo says that with the equity breakdown, the 17 operators can expect a 30% increase in revenues due to the company being owned and protected by the Government. 

“This equity structure is how shares will be essentially. Operators’ total contribution is $19,467,614. Government, as indicated in the previous slide, is $22,752,600. Institutional investors $7,500. Institutional investors, we’ve seen interests expressed by insurance companies, to be honest, and we’ve also had the express interest by Social Security Board as discussed earlier. Now, on a percentage share, as you could tell on the right side of that slide, operators will have 39.15% of shares. Government of Belize 45.76, institutional investors 15.08%. This line indicates a graph, a graphical impression, of the percentages as just described earlier. Bus operators were presented with existing profits based on what they had provided to us. And then that data was then collected to come up with what would be our projected profits.”

The National Bus Company is set to have its inaugural run on March 1.