Go-Ahead Group, the largest operator of London’s iconic red double-decker buses, has fallen into foreign hands.
The company, which operates commuter trains in addition to buses, is being acquired for £648 million by an investor group led by Australian industry peer Kinetic.
Go-Ahead operates nearly a quarter of London’s buses, including part of the city’s zero-emission fleet. The company also operates Govia Thameslink, the UK’s largest rail operator, responsible for commuter trains to London and the Express line to Gatwick Airport.
Interest in takeovers of British transport companies has been increasing recently. Investors expect a rebound in passenger traffic after the corona pandemic and are attracted by the stable returns the sector offers due to the predominantly multi-year government contracts.
For example, in March DWS Infrastructure agreed to buy bus company Stagecoach Group, surpassing a previous offer from National Express Group.