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
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
Or sign up for a trial to gain full access to the entire site for a limited period.
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.