Dan is Israel's second largest bus company after Egged.
Sources inform ''Globes'' that Dan Public Transport Company Ltd. is seeking an external investor to buy 40-45% of the company. The company prefers a financial investor, but will consider a strategic investor. Dan is Israel's second largest bus company after Egged Israel Transport Cooperative Society Ltd.. The company's fleet of 1,200 buses operates about 100 routes in the greater Tel Aviv area.
Dan is in talks with Connex Israel, a unit of Veolia Environnement SA (Euronext: VIE; NYSE: VE), with Mayer Cars and Trucks Ltd. bus subsidiary Kavim Ltd., and Horn and Leibowitz Ltd. Dan has been seeking an external investor for months because this year it will have to repay NIS 480-500 million in loans taken from Bank Hapoalim (TASE: POLI; LSE:80OA) to finance its restructuring.
Published by Globes [online], Israel business news - www.globes-online.com - on April 1, 2008
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