Dan Transportation Nears Deal to Acquire Tnupha Bus Company
Translated & summarized from Kipa by baba
Dan Transportation is in advanced talks to acquire Tnupha, a bus company, for an estimated NIS 150 million. The deal, if completed, would significantly expand Dan's fleet to around 3,500 buses. However, the acquisition faces potential hurdles due to opposition from Tnupha's partners. This move follows Dan's recent purchase of Messi'ei Shasha and comes as Ariel's mayor advocates for better local transit.
The story in 5 lines · by baba
- Dan Transportation is nearing a deal to acquire Tnupha for approximately NIS 150 million.
- The acquisition would increase Dan's bus fleet to around 3,500 vehicles.
- Tnupha operates bus routes in the Jerusalem and Samaria regions.
- The deal's completion is uncertain due to opposition from Tnupha's partners.
- Dan recently purchased Messi'ei Shasha for NIS 180 million.
Dan Transportation is reportedly close to acquiring Tnupha, a bus company, in a deal estimated at approximately NIS 150 million. While the parties have reached an agreement, the transaction's completion is not guaranteed due to opposition from Tnupha's controlling shareholder's partners. This potential acquisition follows Dan's recent purchase of Messi'ei Shasha for NIS 180 million.
Tnupha, established in 2020, operates bus routes in the Jerusalem and Samaria regions with a fleet of about 350 intercity buses. The company generates annual revenues of around NIS 400 million from its transportation services and fares. Tnupha is owned by Maya Thor and Eastlink Lanker (30% each), China Motors (22.5%), and Messi'ei Shasha (17.5%).
If the deal is finalized, Dan's bus fleet is expected to expand to approximately 3,500 vehicles, as Dan intends to acquire all of Tnupha's shares. Dan itself recently came under the control of an investor group led by CEO Ofir Karni, alongside Clal, Leumi Partners, and Mizrahi Tefahot, after being acquired from Leo Base.
The negotiations for Tnupha occur amidst public advocacy by Ariel Mayor Yair Shtabbon for improved public transportation services for residents. The finalization of the deal remains uncertain due to the ongoing opposition from Tnupha's partners.
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