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Article: Spain : Consortium bidding for National Express ups offer.
- Article from:
- TendersInfo
- Article date:
- August 28, 2009
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Byline: Mamta03
The Spanish consortium in the running for National Express has upped its offer to 450p per share, leaving shareholders with a choice between the [pounds sterling]689m approach and the board s proposal for a [pounds sterling]350m rights issue.
The consortium led by CVC Capital Partners, a private equity group, also includes the Cosmen family, who already own 18.6 per cent of National Express following the company s [pounds sterling]149m acquisition of Alsa, the Spanish bus operator owned by the family, in 2005. Jorge Cosmen, who is deputy chairman of National Express, has not been present at any of the relevant board meetings.
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