18 Nov 2005
Infratil announces that it has entered into a conditional agreement with Stagecoach plc with respect to acquiring the New Zealand bus and ferry business of Stagecoach plc.
A further announcement is expected by not later than 29 November 2005.
Stagecoach's New Zealand operations involve urban bus passenger services in Auckland and Wellington. Stagecoach also owns Fullers ferries in Auckland.
In Wellington, Stagecoach has approximately 365 buses and provides most of the urban passenger services. In Auckland it has approximately 658 buses and provides services throughout Auckland alongside other providers of bus, rail and ferry public transport.
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