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Article: National Express agrees [pound]450m deal for Spanish transport operator ; BUSINESS
- Article from:
- The Independent (London, England)
- Article date:
- April 28, 2007
- Author:
CopyrightCopyright 2007 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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National Express, the UK transport group, became Spain's biggest
bus and coach operator yesterday after the [pound]450m takeover of
one of the country's leading public transport companies.
The acquisition of the Madrid-based Continental Auto, which runs
long-distance coaches and regional and urban buses, from its parent
company Grupo ACS, will increase National Express's share of the
fast-growing Spanish market to about 15 per cent.
The company moved into Spain in December 2005 with the
[pound]262m purchase of another long-distance coach operator,
Alsa.When this latest deal is complete National Express will have a
[pound]400m-a-year turnover business in Spain carrying more than 142
million ...