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Article: Arriva pays 41m for stake in Portuguese transport firm
- Article from:
- The Northern Echo
- Article date:
- May 17, 2006
- Author:
CopyrightCopyright 2006 The Northern Echo. Provided by ProQuest LLC. (Hide copyright information)
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BUS and train group Arriva last night widened its stronghold in
Europe after acquiring a stake in a family-owned Portuguese transport
company.
The Sunderland-based group said it paid 41m for 21.5 per cent of
privatelyowned passenger transport group Barraqueiro.
A spokesman for Arriva said funding for the deal was helped by the
sale of its vehicle rental business AVR to Darlington-based Northgate
in February for 129m.
Arriva is buying Barraqueiro's treasury shares, which account for
15 per cent of the share capital, and will acquire the 6.5 per cent
balance from the private shareholders. The company will be entitled
to appoint two directors to Barraqueiro's nine-person board.
Barraqueiro is ...