Dan Transportation Nears Deal to Acquire Tnuufa for $150 Million
Translated & summarized from Calcalist by baba
Dan Transportation has agreed to purchase Tnuufa for approximately 150 million shekels, but the deal faces opposition from Tnuufa's partners and is not yet finalized. Tnuufa operates routes in the Jerusalem and Shomron areas with 350 buses and generates 400 million shekels annually. Dan recently acquired Shasha Transport for 180 million shekels. The potential acquisition would significantly increase Dan's fleet to about 3,500 buses.
The story in 6 lines · by baba
- Dan Transportation agreed to buy Tnuufa for about 150 million shekels.
- The deal is not final due to opposition from Tnuufa's partners.
- Tnuufa operates bus lines in the Jerusalem and Shomron regions.
- Tnuufa has 350 intercity buses and annual revenues of 400 million shekels.
- Dan recently purchased Shasha Transport for 180 million shekels.
- The acquisition would expand Dan's fleet to approximately 3,500 buses.
Dan Transportation has reached an agreement to acquire Tnuufa for approximately 150 million shekels, though the deal is not yet final. Partners of Tnuufa's controlling shareholder are currently opposing the acquisition, which could lead to its collapse. This follows a failed attempt in July by Metropolitan, owned by the Generes Foundation, to purchase Tnuufa. Tnuufa operates bus routes in the Jerusalem and Shomron regions and possesses a fleet of about 350 intercity buses. The company generates approximately 400 million shekels in annual revenue from service kilometers and fares. Tnuufa is jointly owned by Maya Tor (30%), Eastlink Linker (30%), China Motors (22.5%), and Shasha Transport (17.5%). Dan recently acquired Shasha Transport from Aryeh Shasha for 180 million shekels. Dan itself is now controlled by a group led by CEO Ofir Karni, including Clal, Leumi Partners, and Mizrahi Tefahot, which purchased control from Leo Base. If the Tnuufa acquisition proceeds, Dan's bus fleet would expand to around 3,500 vehicles.
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