Stagecoach seals pounds 230m takeover of Swebus
Wednesday 04 September 1996
Chairman Brian Souter said that the acquisition of Swebus, the biggest bus operator in the Nordic region with a fleet of 3,450 buses and 6,200 staff, would provide a strong platform for further expansion in the area and other parts of Europe.
The group, which controls 18 per cent of the British bus market and operates the South West Trains franchise into London's Waterloo station, aims to increase turnover four-fold to pounds 2bn by the end of the decade.
Stagecoach is paying pounds 115.6m in cash for Swebus and taking on debt and accrued interest of pounds 117m. The deal follows its controversial pounds 825m acquisition of the train leasing company Porterbrook last month from a management buyout team.
Swebus, owned by the Swedish national railway, made pre-tax profits of Swedish kroner 111m (pounds 9.8m) last year on turnover of SKr3.2bn and controls 30 per cent of Sweden's bus market, but only 3 to 4 per cent of the Nordic markets outside Sweden.
Fracking is turning the US into a bigger oil producer than Saudi Arabia
Missing Malaysia Airlines plane: Details emerge of two young Iranians using stolen passports in search for a better life
Three-quarters of Britons are saying it wrong - the top ten most common mispronunciations
Oscar Pistorius trial: Forensic analyst says athlete 'was not wearing prosthetic legs' when he smashed locked toilet door with a bat
Missing Malaysia Airlines flight MH370: ‘Alright, good night’ – last words from cockpit revealed amid growing confusion
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Exclusive: Impact of immigrants on British workers ‘negligible’
Katie Hopkins continues campaign to become Britain's most hated talking head with poorly timed Bob Crow tweet
No EU referendum under Labour: Ed Miliband to reveal that vote on membership is ‘unlikely’ in next Parliament if party wins power
Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
Ukraine crisis: Russia pledges to 'retaliate against sanctions' as Ukrainian president says Crimea vote will not be recognised
- 1 Boy George: Bad karma
- 2 Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
- 3 First Kiss video: Filmmaker gets 20 strangers to make out on YouTube with awkward results
- 4 Rampaging elephant smashes up house but then 'saves crying baby trapped under debris'
- 5 Ian Wright breaks down in ITV documentary charting his rise to Arsenal and England striker
iJobs Money & Business
£45000 - £55000 per annum + Bonus and Benefits: Harrington Starr: One of the i...
£57000 - £77000 per annum + Benefits: Pro-Recruitment Group: Top 10 Specialist...
£350 - £450 per day: Harrington Starr: Harrington Starr are currently working ...
£40000 - £60000 per annum: Harrington Starr: Application Support - FIX protoco...