Bank to buy out Novelo?s from D.F.C.?

In light of the most recent chapters of the bus wars, the brutal reality of the importance of the country’s transport system is now at the forefront of the government’s consciousness… and tonight there is news to report regarding the future of the Novelo’s Bus Company. Reliable sources tell News Five that there is a serious offer on the table by the Atlantic Bank Group of Companies to buy the debt-ridden company. However, we understand that the deal is only offering to pay ten million dollars to the Development Finance Corporation. That would mean a sale pennies on the dollar as the Novelo’s Bus line is into the D.F.C. for estimated thirty-five million dollars, which is the thirty million it borrowed plus accrued interest. The company is currently held in joint receivership by the Development Finance Corporation and Atlantic Bank. Atlantic Bank is just one of the financial institutions left badly wounded by the overambitious effort by Government and the Novelo’s family to create a monopoly bus company.