Egged buys Polish bus company - Israel Business, Ynetnews

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Egged buys Polish bus company

Egged Holdings acquires 90 percent of Mobilis, operator of transport lines, tourist buses in Warsaw, for 4 million euro

Benny Barak
Published: 12.11.06, 09:12 / Israel Business

Egged Holdings, a subsidiary of Egged – the leading public transport operator in Israel, has acquired 90 percent of the Polish company Mobilis.


Mobilis owns 117 buses, 60 of which are used for public transportation in Warsaw, and the remainder for special transports and tourism.


At the first stage, Egged will buy 90 percent of Mobilis' shares for 4 million euro. The other 10 percent will be purchased within a year.


Arik Feldman, Egged's chairman of the board, will serve as the CEO of the company, whose name will be changed to "Egged Mobilis."


Immediately following the buy, Egged won a tender to operate another cluster of lines in northern Warsaw. In the framework of this addition to its operations, the company will put 53 new city buses into service.


The tender's scope of operations stands at 4.5 million euro per year, for 10 years.


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