The Arriva Group CEO, Mike Cooper said: “A decision to sell our bus business in Portugal is part of our forward-looking strategy to manage a tighter portfolio and ensure we maintain a strong and competitive business for the long-term.
“The agreement for Dan Group – Israel’s second-largest transport company – to acquire the bus business in Portugal is good news for our colleagues, passengers and clients alike. The sale would include the purchase of Transportes Sul do Tejo’ (TST) which provides bus services in Lisbon, with colleagues transferring over on completion.
“TST has been part of the Arriva Group for around 20 years, and we have a long track record of providing high quality sustainable transport services in the City of Lisbon. Dan Group – with its long and strong history of partnering with local transport bodies and building its capability and footprint in Israel – is well-positioned to develop the business in Portugal and further its market presence.
“The transaction is expected to complete in late August and so our priority now is to support our colleagues in Portugal through the transition as they maintain their focus on delivering the very best services for passengers and client bodies.”
The completion of the transaction will be subject to customary closing conditions, including, among others, approval by the Deutsche Bahn Supervisory Board and the German Federal Ministry for Digital and Transport.