Ljubljana, 08 August (STA) - The Ljubljana-based coach group Nomago has signed an agreement to take over its Brežice-based counterpart Integral Brebus in a bid to expand its business in Croatia, where it wants to acquire at least 30% market share.
In a written statement, Nomago said that the takeover was part of its strategy of geographic growth and expansion of Nomago InterCity links, occasional transfers, on-demand services and travel services.
The transaction is expected to be finalised by the end of the year pending the approval of the Slovenian Competition Protection Agency.
Integral Brebus has been a major business partner of Nomago, acting as a subcontractor in occasional transfers, which Nomago would like to develop further.
"We will be able to offer passengers from the Dolenjska and Posavska regions even better and faster links with towns and airports in Slovenia and Europe," Nomago CEO Sandi Brataševec was quoted as saying.
"We would like to link Integral Brebus with our new Nomago InterCity service, now available in seven European countries," Brataševc added.
Integral Brebus and its subsidiary Integral Voznik employ more than 120 people and operate a fleet of 90 coaches and other passenger transport vehicles.
Integral Brebus posted about EUR 5 million in revenue last year, 20% of which in foreign markets, while Integral Voznik generated EUR 2.7 million in revenue.