Transdev sells London Sovereign to RATP Dev
Issy-les-Moulineaux - April 28, 2014. As part of the redeployment of its activities in the UK, Transdev has finalized the sale of its London Sovereign company to RATP Dev UK. This operation internal to the UK enables Transdev to withdraw from the London bus market and continue its development in the UK in the transportation on demand and open access (deregulated) bus markets.
Representing approximately 2% of the London bus market, London Sovereign operates 13 lines in the city's northwest sector from its two depots in Edgware and Harrow. The company, which has 460 employees and a fleet of 140 buses, generated € 33 million in revenues in 2013.
This transaction illustrates Transdev's dynamic management of its activities portfolio as part of its strategy of redeployment toward transportation on demand activities in the UK.
“This transaction is part of our strategy to manage our activities, country by country. Following Sovereign's significant recovery in recent years, we wanted to allow it to develop the backing of a major player in the London market, which is also a French company. Transdev can now accelerate its growth in the transportation on demand market and seek opportunities in the open access bus transport market.”