News Blog for the Essex Rail Users Federation - www.eruf.org
Friday, 24 July 2009
Spanish Join National Express Bid
Following the announcement that an unnamed suitor has made a takeover approach for National Express, a major shareholder has joined with a private equity firm to formulate a possible takeover bid.
The Cosmen family from Spain, which owns 18.5% stake in National Express has teamed up with CVC Partners. CVC confirmed the consortium has made an initial proposal "to acquire for cash" all shares in National Express.