Business Services Industry
Stagecoach Group joins DSB to bid for rail franchise in the UK
Nordic Business Report, March 18, 2004
NORDIC BUSINESS REPORT-18 March 2004-Stagecoach Group joins DSB to bid for rail franchise in the UK(C)1994-2004 M2 COMMUNICATIONS LTD http://www.m2.com
The Danish railway company DSB announced on Thursday (18 March) that it would be joined by the UK-based bus and rail operator Stagecoach Group Plc in a bid for the Integrated Kent rail franchise in the United Kingdom.
The bid will be made through DSB's newly-formed subsidiary South Eastern Railways Ltd, in which Stagecoach Group will take a 29.9% stake, DSB said.
"Stagecoach Group will provide valuable input during the bid process and operational phase and thus enhance our chances of submitting a successful bid," explained Soren Eriksen, executive vice president and CEO of DSB.
"At the same time, we will be in a better position to deliver a best value plan for the Integrated Kent franchise. It was essential for DSB to find an investor who could not only provide experience and know-how from the UK market, but also share our key corporate values," Eriksen said.
The Integrated Kent Franchise will include routes on the national rail network currently operated by South Eastern Trains throughout Kent, parts of Sussex and South East London, and new domestic services on the Channel Tunnel Rail Link.
((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))
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