A group backed in part by Mobico’s largest shareholder has agreed to buy National Express operator Mobico for £308 million, in a transaction valued at around £2.3 billion with debt included, The Independent reported Friday.
The offer is 46 pence per share. The Independent said Autobuses de Leon is making the bid through its subsidiary, Leita Mobility. Autobuses de Leon is backed by CMC Group and Asterion Industrial Partners; CMC holds roughly 26% of Mobico and is its largest shareholder, the report said.
The deal follows an earlier proposal at the same per-share price. Mobico’s Oct. 21 disclosure valued that possible offer at about £282 million for shares then in issue, as EconoTimes reported in its coverage of the earlier proposal.
Mobico non-executive chairman Phil White called the offer a “good outcome” for stakeholders and said it could give the business “greater financial flexibility,” according to The Independent.
Mobico employs roughly 30,000 people and operates around 13,400 vehicles globally, the report said. It also noted the company’s recent asset sales, including its U.S. school bus operation for £457 million last year and a deal to sell its remaining U.K. regional bus operator.
