Trenitalia UK Ltd reached an in principle agreement to acquire Nxet Trains Limited from National Express Group PLC for approximately £110 million.
January 10, 2017
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Trenitalia UK Ltd reached an in principle agreement to acquire Nxet Trains Limited from National Express Group PLC (LSE:NEX) for £72.6 million on January 11, 2017. As part of the transaction, Trenitalia is acquiring the services offered by National Express in 26 stations between East London and South Essex. c2c reported revenues of €200 million (£171.27 million) in 2016. Trenitalia UK will retain c2c's existing management and staff. The board of National Express believes that the offer presented by Trenitalia UK is fair and is in the interest of the shareholders of National Express. The transaction is conditional upon the final consent from the department of transport and is expected to be completed within three to four weeks from the signing of the principle agreement.
Rebecca Mitchell and Neil Bennett of The Maitland Consultancy Limited acted as public relations advisors while, Jan Sanders, Terry van Poortvliet, Themo Georgiou, Jake Hadfield, Stuart Cottis, David Baxter, Sean Coyne, Mark Vickers, Campbell Johnson, James Frixou, Marcus Fink, Nicholas Gardner, Tim Gummer, James Fletcher, Adam Eskdale and Tom Mercer of Ashurst LLP acted as legal advisors to National Express Group. Giovanni Sanfelice di Monteforte and Salamander Davoudi of Tancredi Intelligent Communication Ltd acted as the public relations advisors and Massimiliano Danusso, Helen Roberts, Gianpaolo Garofalo, Claudio Tesauro and Leonardo Armati of Bonelli Erede Pappalardo Studio Legale and Tammy Samuel, Zoe Harris, Graham Wrightson, Naeem Noor, Anne Pritam, Hayley Reid, Natalie Edwards, Anita Kasseean, Andrew McLean and Rob Gray of Stephenson Harwood acted as legal advisors to Trenitalia UK. Ernst & Young acted as financial advisor to Trenitalia S.p.A. Currency conversion was done using www.oanda.com on December 31, 2016.
Mobico Group PLC is an international transport operator. The Company provides mobility solutions to cities, businesses, education, healthcare and customers. It is internationally diversified with a portfolio of contracts and customer brands. The Company operates transportation services in 11 countries, the United Kingdom, the United States, Canada, Spain, Morocco, Switzerland, France, Germany, Portugal, Ireland and Bahrain, with some international coach services to other European countries. Its subsidiary, ALSA, operates long distance, regional and urban bus and coach services across Spain, and in Morocco, Portugal, Switzerland and France. ALSA also offers mobility solutions to meet business leisure and healthcare needs. Its business in North America has three areas of activity, student transportation, transit and shuttle services. It operates in 34 states in the United States and three Canadian provinces. The Company operates rail services on seven routes in North Rhine-Westphalia.
MOBICO GROUP PLC 
