NatEx sells Travel London to NedRailways to raise cash

摘要

National espressgroup has agreed a £32million cash deal to sell Travel London, its 470-vehicle bus division in London and Surrey, to NedRailways, a subsidiary of principal Dutch train operator Nederlandse Spoorwegen (NS).rnThe binding agreement, announced on 21 May, is subject to consent from Transport for London, for whom Travel London operates 36 tendered routes in addition to 30 services for Surrey County Council and Kingston University. It has 1,600 staff and made a £3.9million pretax profit last year with assets valued then at£35.9million. Managing director Paul McGowan and finance director Ross Hanley will transfer to NedRailways.