Egged Holdings buys Polish bus firm

Egged Holdings said it would buy the remaining 10% of the Polish bus company within the next 12 months.

By SHARON WROBEL
December 11, 2006 08:26

 
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Egged Holdings, a subsidiary of national bus operator Egged acquired 90 percent of Polish bus company Mobilis Sp, for EU4 million, to increase the company's business activities in Eastern Europe. Mobilis has a fleet of 117 buses, of which 60 operate on bus routes in Warsaw under a franchise from the municipality. Egged Holdings said it would buy the remaining 10% of the Polish bus company within the next 12 months. Mobilis recently won an additional franchise from the Warsaw municipality for the operation a number of routes in the northern section of the city, with an annual value of EU4.5m.

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