CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Spain's Autobuses de Leon offers to buy UK's Mobico for $412 million

By Reuters News

Oct 30 (Reuters) - Spanish transport company Autobuses de Leon made an offer on Friday to buy Mobico Group MCG.L in a deal that would value the British bus, coach and rail services company at about £308 million ($412 million) on a fully diluted basis.

Here are some details:

  • Autobuses de Leon (AdL) said its 46 pence per share offer gave Mobico an enterprise value of about £2.32 billion

  • The offer is at a 55% premium to the National Express owner's share price before it confirmed deal talks earlier this month

  • AdL, which operates bus concession businesses in Malta and Cyprus, said the acquisition would allow it to expand further across Europe

  • Mobico operates across North America, continental Europe, Britain and North Africa, and in August sold its UK Bus brand in an effort to trim its operations

  • AdL is jointly held by CMC Group — controlled by Mobico's largest investor, the Cosmen family — and investment management firm Asterion Industrial Partners

  • Shares of Mobico were up 11.2% at 43.8 pence in early trading

($1 = 0.7481 pounds)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.