National Express gets Cosmen support in £360m rights issue

18 Dec 2009

UK bus and rail operator National Express Group closed its £360m rights issue with a 90.47% take-up level on Monday supported by its largest shareholder, Spain’s Cosmen family.

"The Cosmen family backed the rights offering with their own money," said a banker working on the deal. The Cosmens originally opposed the capital increase following disagreements with the board of directors. The board walked away from talks about a merger with peer Stagecoach in October in favour ...

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