Dan Group to acquire Transportes Sul do Tejo from Arriva Group.

Dan Group, a transport company, agreed to acquire Transportes Sul do Tejo, an operator of public passenger transport, from Arriva Group, a provider of passenger transport. Financial terms are not disclosed. “A decision to sell our bus business in Portugal is part of our forward-looking strategy to manage a tighter portfolio and ensure we maintain a strong and competitive business for the long-term. The agreement for Dan Group - Israel's second-largest transport company - to acquire the bus business in Portugal is good news for our colleagues, passengers and clients alike. The sale would include the purchase of Transportes Sul do Tejo which provides bus services in Lisbon, with colleagues transferring over on completion," Mike Cooper, Arriva Group CEO.