Mobico Group (formerly NX Group)

[winston]

Elliot advisors, the activist hedge fund & NX Groups largest shareholder has announced plans to sell nearly a 10% stake in NX group worth £120 million

Elliot bought in to NX group when the group was strangled by high levels of debt & took part in the rights issue back in 2009. They have up to last year caused NX group numerous headaches through attempted shareholder revolts, pushing for the group to be broken up & sold off in pieces, merging with another UK or European transport group & even having its own nominated non exec directors on the NX board of directors. This latest announcement appear to show that Elliot are finally losing interest & setting its sights elsewhere

http://www.guardian.co.uk/business/marketforceslive/2013/mar/06/national-express-elliott-share-sale

Dean Finch/NX group 1 - Elliot Advisors 0

[D10]

Elliot advisors, the activist hedge fund & NX Groups largest shareholder has announced plans to sell nearly a 10% stake in NX group worth £120 million

Elliot bought in to NX group when the group was strangled by high levels of debt & took part in the rights issue back in 2009. They have up to last year caused NX group numerous headaches through attempted shareholder revolts, pushing for the group to be broken up & sold off in pieces, merging with another UK or European transport group & even having its own nominated non exec directors on the NX board of directors. This latest announcement appear to show that Elliot are finally losing interest & setting its sights elsewhere

http://www.guardian.co.uk/business/marketforceslive/2013/mar/06/national-express-elliott-share-sale

Dean Finch/NX group 1 - Elliot Advisors 0

Wonder if Stagecoach will get their chequebook out? A great way to finally get at least a tiny share of the West Midlands bus operation!

[winston]

Elliot advisors, the activist hedge fund & NX Groups largest shareholder has announced plans to sell nearly a 10% stake in NX group worth £120 million

Elliot bought in to NX group when the group was strangled by high levels of debt & took part in the rights issue back in 2009. They have up to last year caused NX group numerous headaches through attempted shareholder revolts, pushing for the group to be broken up & sold off in pieces, merging with another UK or European transport group & even having its own nominated non exec directors on the NX board of directors. This latest announcement appear to show that Elliot are finally losing interest & setting its sights elsewhere

http://www.guardian.co.uk/business/marketforceslive/2013/mar/06/national-express-elliott-share-sale

Dean Finch/NX group 1 - Elliot Advisors 0

Wonder if Stagecoach will get their chequebook out? A great way to finally get at least a share of the West Midlands bus operation!

I think the Stagecoach takeover bid was more opportunistic at the time when NX group was on its knees and the individual divisions were worth more sold off separately than the value of the group. I'd be surprised if Stagecoach takes part in the 10% sale, after all they could have amassed a similar stake in the group buying on the open market after their merger proposals were rejected by the NX board. All will become clear this Thurs.

Another one to throw in to the mix Deutsche Bahn after NX have entered Germany with two franchise wins at the expense of DB & are also now setting a coach operation in the country

[winston]

The Elliott Advisor 50,597,859 shares have been placed at a price of 210 pence per share. At yesterdays close prior to the announcement, NEX shares were 230 pence per share. By Elliott selling such a big quantity in one go, it has wiped circa £10.1 Million off the value of the stake they are selling......

[winston]

Dean Finch is continuing to build a new senior management team at NX made primarily of former First Group management

http://www.scotsman.com/business/transport/mary-grant-jumps-aboard-national-express-1-2975452

Mary Grant, will be working on International growth opportunities initially, then from 2014 is expected to move focus back to the UK in the form of new rail franchises

[Liverpool Street]

So that means the company will be on its needs again with First Management up the top!! Next thing we'll be giving change haha

[winston]

So that means the company will be on its needs again with First Management up the top!! Next thing we'll be giving change haha

Only if Dean Finch pulls Moir Lockhead out of retirement & gives him a job........

[Liverpool Street]

So that means the company will be on its needs again with First Management up the top!! Next thing we'll be giving change haha

Only if Dean Finch pulls Moir Lockhead out of retirement & gives him a job........

Possible haha.

I dont know though, once First always Worst!!

[andy]

I am astounded that NX Group think they should be taken seriously by the Dft when it comes to any future rail franchises. If the Government had any backbone they would surely give them a fixed term ban from bidding following their blatant contract contravention on one franchise and shocking performance on the other, yet they will roll up at the next round with their cap out again?

First should also expect some retribution for leaving the Great Western in chaos and bailing out just prior to the time they would have had to make premium payments.

Why do we as a country stand for a system like this where we are constantly pillaged by fat cat shareholders who don't play by the rules yet still walk away with their money and then astonishingly come back for more the next time round?

[winston]

NX Group Trading Statement issued to the stock market this morning, for anyone interested, all seems pretty positive.....

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11632274

[winston]

3rd quarter interim management statement released this morning for anyone interested:

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11758720

[nx4737]

Dean Finch is continuing to build a new senior management team at NX made primarily of former First Group management

So we'll be going back to years of underinvestment and debt then!

Just when things for NXWM were looking up!

[winston]

Dean Finch is continuing to build a new senior management team at NX made primarily of former First Group management

So we'll be going back to years of underinvestment and debt then!

Just when things for NXWM were looking up!

Nope, because Moir Lockhead isn't involved.

Dean Finch has already confirmed that he's intending to lower current debt levels further by 2015. All NX Group growth is coming from existing revenue growth through investment and capital light business ventures such a new start up's i.e City 2 City in Germany, German Rail contract wins, small acquisition of US Transit business & subsequent contract wins, further contract wins for ALSA in Spain & Morrocco etc

I don't think we'll see much more than smaller bolt-on acquisitions for the foreseeable until debt levels are much lower

[Justin Tyme]

Winston - I agree fully with your assessment.  It looks like more of the same for NX for now, which won't be a bad thing.

[winston]

Winston - I agree fully with your assessment.  It looks like more of the same for NX for now, which won't be a bad thing.

Justin,

All appears to be positive & heading in the right direction, I think it's steady as she goes for the next couple of years, some acquisitions would be nice and I'd personally like to see NX Group become a bigger player in the UK bus. Realistically it will be small bolt-on acquisitions at most by the looks of it across the group. The main focus for expansion appears to be outside of the UK in USA, Germany, Spain & Morocco