(Alliance News) - National Express Group PLC has bought Spanish bus contractor Transportes Rober for EUR13 million, it announced on Tuesday.
The acquisition of Granada, Spain-based Rober, which operates the urban bus contract in the province, represents a further step in consolidating the urban bus markets in the region, National Express said.
National Express Chief Executive Ignacio Garat commented: "I am delighted that in addition to maintaining tight control on costs, we are able to focus on growth and continue our successful 'consolidate and compound' strategy.
"The acquisition of Rober adds another revenue-protected contract to ALSA, consolidating its leadership position in another region, further diversifying its revenue streams and delivering operational synergies".
ALSA is National Express' Spanish subsidiary.
In separate news, National Express reported that its trading performance continues to improve, slightly ahead of management expectations. New contract wins had been secured recently, notably in corporate shuttle in both North America and the UK, it added.
The company will announce its interim results on July 29
Shares in National Express were trading at 284.00 pence in London on Tuesday morning, up 2.2%.
By Will Paige; willpaige@alliancenews.com
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