TransJamaican Highway seeking to acquire JIO

TransJamaican Highway is looking to acquire the company responsible for the daily operations of  Highway 2000 East-West.
In a notice to the Jamaica Stock Exchange, TransJamaican Highway said negotiations are taking place to purchase Jamaican Infrastructure Operator Limited (JIO).
TransJamaican wants a deal to assume control of  100 per cent of  JIO shares.
In 2020, it was reported that the Jamaican Government had issued a five-year operations and maintenance contract for Highway 2000 East-West to JIO, which is a French company.
JIO receives a three per cent cut of  revenues along with a monthly fee.
JIO is continuing a role it has performed for nearly two decades under the former owners of TransJamaican Highway.

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