Go Ahead acquires East Thames buses

30th Jul 2009 08:18

Rail and bus group Go-Ahead has agreed to acquire the assets of East Thames Buses from Transport for London (TfL)for £5m.The firm estimates the acquisition will save it £5m over nine years as a result of the sale of its assets, reduced operating costs and economies of scale.East Thames Buses, which operates in Southeast London, has about 460 employees and 113 vehicles. It operates 9 routes for TfL including 2 school routes. All contracts will be renewed with East Thames Buses for a 5 year period from the date of completion, together with a 2 year option for extension, Go-Ahead said.