Bus 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

Bus 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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