Following positive progress on antitrust regulation process, the closing of the transaction is now expected for Q1 2021, subject to regulatory approvals and customary closing conditions, with an extraordinary shareholders’ meeting to be held in October.
Closing of the acquisition of Bombardier Transportation remains on track for the first half of 2021.
Through the acquisition the company will add Champion Bus, Federal Coach, World Trans, Krystal Coach, ElDorado, and Goshen Coach.
By working together as part of Intel and Mobileye, Moovit will advance the company’s MaaS strategy and the global adoption of autonomous transportation.
The agreement would create the world's No. 2 train manufacturer and better take on China's CCRC Corp.
Silver Fox Bus Lines was founded more than 40 years ago.
The procurement will include several school bus and motorcoach vehicles, as well as 29 employees.
Industry analysts can only speculate what strategic moves come next. Will the new owners push to expand their market share, even if this means more aggressive fare discounting?
Headquartered just outside Quebec City, the company manufactures wheelchair accessible automotive turning seats and lifting devices.
The sale was made based on a value of approximately $65 million after adjusting for debt and cash holdings.