Egged makes first acquisition abroad

The purchase will give Egged responsibility for approximately half of the public transport system in Varna, Bulgaria's second largest city.

By AVI KRAWITZ
May 22, 2006 07:46
egged logo biz 88

egged logo biz 88. (photo credit: )

 
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Transportation company Egged Holdings said it bought a 51% stake in Bulgarian company TransTriumf for approximately 3 million Euro, marking its first acquisition outside of Israel. The purchase will give Egged responsibility for approximately half of the public transport system in Varna, Bulgaria's second largest city. Egged said it currently operates approximately 1,040 service lines with its fleet of 3,300 busses, employing some 6,300 people.

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