The Cosmen sign CaixaBank and Santander for the Mobico takeover bid
The founders of Alsa and Asterion define their offer, in which BofA also advises, with the final aim of delisting the British operator, worth around 2,000 million.
The family of Cosmen, who own 26% of UK bus operator Mobico, and investment fund Asterion are preparing a 282.5 million pound ($337 million) bid to take the company private. The offer, advised by Bank of America, Santander, and CaixaBank, values Mobico at around 2 billion euros, including debt of nearly 1.4 billion euros. Mobico's shares jumped 32% in London on the news, and the bidders will now conduct due diligence before formally launching the offer.
The company's CEO, Francisco Iglesias, has been implementing cost-cutting measures, including selling unprofitable businesses and adjusting operations in Germany, Morocco, and the UK.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
