National Express Buys Spain's Transportes Rober For EUR 13 Mln; Says Trading Slightly Ahead Of View

Public transport company National Express Group Plc. (NEX.L) announced Tuesday the acquisition of Transportes Rober in Spain for headline consideration of 13 million euros.

Rober has operated the urban bus contract in Granada for more than 20 years.

The company said the acquisition of Rober represents a further step in consolidating the regional and urban bus markets, a strategy which ALSA has successfully executed in Galicia, the Basque Region and Leon amongst others.

National Express further said its trading performance across the group continues to improve, slightly ahead of management expectations.

The company has continued to win new contracts, mainly in corporate shuttle both in North America and the UK.

The company said it will give a further update with the interim results on July 29.

Ignacio Garat, CEO of National Express said, "I am delighted that in addition to maintaining tight control on costs, we are able to focus on growth and continue our successful 'consolidate and compound' strategy. The acquisition of Rober adds another revenue-protected contract to ALSA, consolidating its leadership position in another region, further diversifying its revenue streams and delivering operational synergies."

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