Bus ridership has been hit hard in Hong Kong and the bus firms have seen profits tumble. Photo: Fung ChangBus ridership has been hit hard in Hong Kong and the bus firms have seen profits tumble. Photo: Fung Chang
Bus ridership has been hit hard in Hong Kong and the bus firms have seen profits tumble. Photo: Fung Chang

Hong Kong’s Citybus, New World First Bus sold for HK$3.2 billion to consortium led by private equity fund

  • NWS Holdings says objective of the sale is to ‘keep jobs, keep payroll, and keep benefits’ as the coronavirus crisis hammers business
  • Consortium is led by private equity fund Templewater Bravo, which will own more than 90 per cent of the bus firms after the acquisition

Topic |   Transport and logistics
Bus ridership has been hit hard in Hong Kong and the bus firms have seen profits tumble. Photo: Fung ChangBus ridership has been hit hard in Hong Kong and the bus firms have seen profits tumble. Photo: Fung Chang
Bus ridership has been hit hard in Hong Kong and the bus firms have seen profits tumble. Photo: Fung Chang
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