>Bahamas Government to exit its interest in Mayaguana project

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>The Government’s plans to exit its 50 per cent equity interest in a $1.8 billion Bahamas-based investment project could “move ahead rapidly” once it and its developer partner “mutually agree” recommended changes to their agreement, Tribune Business has learned.

Vincent Vanderpool-Wallace, minister of tourism and aviation, confirmed to this newspaper that in return for handing back its equity stake in Mayaguana Island Developers Ltd to its private sector partner, the I-Group, the Boston-based company would return some 5,000 acres of land on that island to the Government.

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