Transdev sells Flygbussarna Airport Coaches to the Norwegian state-owned company Vy. The parties have agreed on the terms and now the approval of the authorities remains. The deal is expected to be completed in the first quarter of 2020.
Flygbussarna, which operates public transport to and from seven Swedish airports, has a turnover of just over SEK 500 million. A total of five million trips were made with the company last year, Flygbussarna writes in the press release.
”"We will not be satisfied with just acquiring Flygbussarna, but we have big plans to expand the business and allow more guests to travel comfortably, environmentally friendly and affordably to and from our airports," says Robert Nyberg, CEO of Vy Travel.
The companies are not paying any purchase price, and the formal takeover is planned to take place on March 1, 2020. The acquisition must be approved by the Swedish Competition Authority.
According to Transdev, the sale is part of a strategic decision to focus on the core business of procured traffic and services with other companies as customers.
In the past year, several businesses that are directly aimed at end consumers have been sold, including the European express bus businesses isilines and Eurolines; SuperShuttle and taxi businesses in the USA, the company writes in a press release.
Transdev is a multinational transport company based in Paris. Vy is one of the largest train and bus companies in the Nordic region and the parent company is owned by the Norwegian state at the Ministry of Transport and Communications.
The airport buses operate from seven airports to and from nine cities in Sweden.
Source: di.se
