Dan Transportation Acquires Tnupha Bus Company for NIS 150 Million
Translated & summarized from Calcalist by baba
Dan Transportation has agreed to acquire the public bus company Tnupha for approximately NIS 150 million, pending regulatory approvals and due diligence. The deal, approved by Tnupha's shareholders, will see Dan take over Tnupha's routes in Samaria and the Jerusalem corridor. This acquisition marks an expansion for Dan beyond its traditional Gush Dan operating area and could support future company growth plans.
The story in 5 lines · by baba
- Dan Transportation will acquire Tnupha for approximately NIS 150 million.
- Tnupha's shareholders approved the sale to Dan Transportation.
- The deal includes Tnupha's routes in Samaria and the Jerusalem corridor.
- The acquisition is subject to due diligence and regulatory approvals.
- Electra Afikim and Metropolitan also attempted to purchase Tnupha.
Shareholders of the public transportation company Tnupha have approved its acquisition by Dan Transportation for approximately NIS 150 million. The deal, first reported two days ago, will see Dan purchase full ownership of Tnupha from its three shareholders: China Motors, which holds 60%, and Maya Thor and Shasha, each holding 20%. Dan's CEO, Ofir Karni, led the acquisition process.
The agreement was finalized after objections from some Tnupha partners were resolved, and following competition from several interested parties. While reports indicated Metropolitan, owned by the Generational Fund, also attempted to acquire Tnupha, Electra Afikim also pursued a deal. Sources close to Tnupha stated that negotiations with Electra Afikim continued until the last moment before the agreement with Dan was signed.
The completion of the transaction is still contingent on due diligence and the fulfillment of conditions, including approvals from the Ministry of Transportation and the Competition Authority. If the deal goes through, Dan will operate Tnupha's routes in the Samaria region and the Jerusalem corridor, including lines serving Beit Shemesh and its surroundings. Tnupha secured these two concessions in 2020 for a ten-year operating period.
For Dan, this acquisition represents an expansion of its public transportation operations beyond the Gush Dan area. The purchase may also align with preparations for a potential future public offering of Dan's shares.
Mentioned
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Other 3
Not the same event — other stories that share this one’s people, places, or theme: background, reactions, and follow-ups.
