Following recent media reports that Stagecoach PLC is in talks with CVC Capital Partners, who, it is reported, may bid to take over the National Express Group, owners of National Express Dundee (formerly Travel Dundee), I received the following e-mail from the Managing Director of National Express Dundee this morning - I reproduce this with his permission :
Fraser
As you will be aware there is currently a lot speculation in the media about the future ownership of National Express and of our operation here in Dundee.
I am keen to keep you updated on the facts as they develop over what may be substantial period of uncertainty for all the Dundee Employees.
At present no offer has been made for National Express, or for any of its businesses, including NX Dundee. National Express has received an early proposal from a consortium made up of a private equity group called CVC and the Cosmen family, who are NX's biggest shareholders. Discussions are at a very early stage and there is no guarantee that this proposal will lead to any offer being made.
You'll also have seen news that Stagecoach are is discussions with the same consortium to possibly buy parts of National Express should the consortium purchase the entire NX Group. Following this news the National Express Board is clarifying what effect this has on the consortium's proposal.
The team in Dundee is remaining focussed on serving the public with a safe, reliable and punctual bus service. We are also continuing with our plans to develop and enhance bus services in the City & suburbs.
Kind Regards
Lawrence Davie
Director Dundee
Kind Regards
Lawrence Davie
Director Dundee