Templewater, Hans Energy Company and Ascendal Group to acquire New World First Bus Services and Citybus for $413m.

A group of investors including Templewater, Hans Energy Company and Ascendal Group to acquire New World First Bus Services and Citybus, which operates buses around Hong Kong, for $413m. "The transaction is in line with the Group’s strategy of optimizing its business portfolio to achieve sustainable long-term growth, prudent risk management and value for all stakeholders. The additional financial resources generated from the transaction will allow the Group to leverage on our strong foundation to capture the opportunities ahead. We believe that the new shareholders can continue to develop and optimize the high quality services delivered by NWFB and Citybus, and create a bright future," Eric Ma, NWS CEO.