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CT BUS FIRM’S PRICE CUT

23 Apr Transport

The purchase price of Cape Town`s Golden Arrow Bus Services had been cut by R20 million to R250 million, the company said yesterday Golden Arrow has been in talks with Mettle and black empowerment group Hosken Consolidated Investments (HCI) for several months. Executive director Barry Gie said the adjustment in the price followed `further negotiations` and took account of `the unpredictability of the company`s operating environment`. Gie said a due diligence investigation had been completed this week and the remaining steps should be completed by July.

Source: Business Report – SAPA