Arriva Group reaches agreement for purchase of its Portuguese business
The sale will include the purchase of TST by Arriva and will allow Arriva Group to maintain a strong business for the long-term, as well as provide future growth and opportunities for the business in Portugal.
Credit: Arriva Group
Arriva Group has announced that it has reached an agreement for Dan Public Transportation Ltd. – Israel’s second-largest transport company – to purchase its Portuguese business.
The decision to sell its bus business in Portugal is part of the company’s forward-looking strategy to manage a tighter portfolio and ensure that it maintains a strong and competitive business for the long-term. The sale will include the purchase of Transportes Sul do Tejo’ (TST), which provides bus services in Lisbon, with employees transferring over on completion.
According to Arriva Group CEO, Mike Cooper, the agreement for Dan Group to acquire the bus business in Portugal is good news for the company’s employees, passengers and clients.
“TST has been part of the Arriva Group for around 20 years, and we have a long track record of providing high quality sustainable transport services in the City of Lisbon. Dan Group – with its long and strong history of partnering with local transport bodies and building its capability and footprint in Israel – is well-positioned to develop the business in Portugal and further its market presence,” said Arriva Group CEO, Mike Cooper.
The purchase of Arriva Portugal will mark Dan Group’s first acquisition of public transportation operations outside of Israel.
With the transaction expected to be complete in late August 2022, Arriva Group’s main priority is to support its colleagues in Portugal through the transition as they maintain their focus on delivering the very best services for passengers and client bodies.
The completion of the transaction will be subject to customary closing conditions, including, among others, approval by the Deutsche Bahn Supervisory Board and the German Federal Ministry for Digital and Transport.
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