FS Italiane acquires full ownership of Qbuzz
The value of the deal is 30 million euros
The Hague, 31 August 2017
FS Italiane, through its subsidiary Busitalia, has acquired from Nederlandse Spoorwegen (the Dutch Railways) the full ownership of Qbuzz the third local public transport company in the Netherlands (Utrecht and Groningen-Drenthe areas) for a value of 30 million euros.
The deal was closed after all the planned procedural and authorisation steps had been followed, and the green light had been given by the Netherlands Authority for Consumers and Markets.
“The Qbuzz deal will enable FS Group to increase its presence on international integrated mobility markets with Busitalia,” says Renato Mazzoncini, CEO and General Director of FS Italiane. “Qbuzz presently operates in the Utrecht and Groningen-Drenthe areas and is looking for ways to expand their business,” Mazzoncini continues. “The deal we closed today is a further and important step in the international expansion of FS Italiane, as laid out in the 2017-2026 Industrial Plan. We are turning into a large European player in integrated mobility and are already one of the main operators on the market: first in Italy and in Greece, second in Germany and we are now present in the UK and in France. The Group's activities abroad – Mazzoncini concludes – currently bring in 13% of our revenue. The goal is to grow from 1 to 4 billion turnover by 2026.”
Busitalia supports Qbuzz’s philosophy for running the business and they will preserve Qbuzz’s identity and business model. Busitalia guarantees the interests of the PTAs and of course, of all the employees. For Busitalia the purchase of Qbuzz opens doors to new possibilities to innovate and achieve long-term goals. The current PTAs for which Qbuzz works, the OV-bureau Groningen Drenthe and the Province of Utrecht are positive about continuing its relationship with Qbuzz and their new shareholder.
Qbuzz, the third operator of local public transport in the Netherlands, had a turnover of approximately 210 million euros in 2016 and EBIT of 9 million. Around 40% of its fleet is less than five years old; it has a total of 614 buses and 26 trams. In 2016 it transported approximately 160,000 passengers per day and it employs 1,670 people. Electronic ticketing, travel documents and client information are all integrated with other modes of public transport.