Grenda selling

[B7RLE]

We were told this morning Grendas are up for sale

[Peter1805]

Whaaaaattt????!!

[werd]

True or Rumour?

[Matty G]

So as this post doesn't become as long as a roll of toilet paper- what with all the scenarios of possible buyers, route carve ups and alike... maybe someone from Grendas could confirm whether this rumour is true or not... and if so, how / where they heard it?

Thanks.

[B7RLE]

I am from Grendas and there trying to sell it a one including Volgren

[Dave C]

Received a message from S.A. that a notice has been put up at SouthLink (ATE) Depots that Grendas will be selling their share of ATE to Hornibrook making them 100% owners.

[Fleet Lists]

I had a look at ATE structure http://www.ate.com.au/structure.html which leaves me a bit confused. And leaves me wondering who owns who. It still mention Tarnsit Plus whoich no longer exists (Now part of Southlink).

It only mentions ATE and Hornibrook in Queensland.

Can someone explain who is the ultimate owner of all this?

The page is dated 2007 and could well be totally out of date.

[Dave C]

I've always been under the impression that ATE is a joint venture between Hornibrook and Grenda's.

[tranzitjim]

What would their asking price be?

[MAN 16.242]

I had a look at ATE structure http://www.ate.com.au/structure.html which leaves me a bit confused. And leaves me wondering who owns who. It still mention Tarnsit Plus whoich no longer exists (Now part of Southlink).

It only mentions ATE and Hornibrook in Queensland.

Can someone explain who is the ultimate owner of all this?

The page is dated 2007 and could well be totally out of date.

Far as I understand it ATE was owned by Grendas and Hornibrook, which now seem soon by 100% owned by Hornibrook.
I think you'll find in the link there, show list of companys they run(but out of date) with ATE headquarters being based in Queensland?
As I understand it ATE is actually/technically is a Queensland company, which is why in link you provided its listed under Queensland.

[Fleet Lists]

That is probably what I thought also but the chart does not appear to say that - probably put together rather badly.

[RailwayBus]

I have also heard the rumour and that Volgren is also up for sale.

I guess time will tell what the circumstances are.

[B7RLE]

The whole lot Is for sale

[jimbo]

I am sure the list of potential buyers would be long and distinguished.Guess we will have to wait and see. Not looking for a new job just yet but may need to learn a new language

[scott]

I wonder why they want to sell?

[CB80]

This was officially confirmed to depots today, if anyone doubts the news they should visit a depot and read one of the notices stuck up.

GTM and Volgren have been put on the market to be sold.

The business will be sold as GTM and Volgren, either together or separately. GTM as an entity will not be split (e.g. they will not sell Invicta, Moorabbin et al as separate entities.)

An in principle agreement has been signed with Hornibrook with them to buy Grenda's share of ATE, in preparation for the sale.

[system improver]

That's certainly big news. There would appear to be 650+ buses, about ten depots (including out-posts), and dozens of routes, all with good-will attached to them. Someone, who buys both, is going to need up to $1 billion. I can only guess at the value of Volgren as a separate entity, but given the number of plants, that would have to be in the hundreds of millions. Might even be too much for the two blues. I wonder if CDC is still interested in building buses.

[red baron]

Remember a while ago that Metro was interested in a bus company?

[B7RLE]

Well that's the rumor going around Metro buses melbourne

[Luke]

Fancy that I was just thinking Metro Buses Melbourne (MBM)

[RailwayBus]

Fancy that I was just thinking Metro Buses Melbourne (MBM)

Metro Trains parent companies are one of those rumoured to be interested. There are others... time will tell what happens, no point speculating.

[PaxInfo]

Given the high value of our dollar, foreign buyers will need deeper than usual pockets to fund the purchase.

And if the dollar's value falls in the future to nearer its long-term average (it was down to the 50s not so long ago), then the profits they take back will be less.

Profits will need to be very high (or the purchase price low) for the deal to offset the currency risk that they will be getting into.

[712M]

So yet another new livery?

[Luke]

Maybe not.

[Alex on the Bus]

I wonder if CDC is still interested in building buses.

CDC is the only name I can think of for buying both GTM and Volgren as one - CDC taking over the transit operations while ComfortDelGro Engineering takes on Volgren. That said, I'm not sure if DoT would be keen on one very large operator taking over another very large operator, especially given the 'natural' growth that both GTM and CDC can expect as the outer west and outer south-east suburbs expand further; there may be a "four pillars" policy about to develop amongst Melbourne's buses where Ventura, GTM, CDC and Dyson's are discouraged from merging themselves and instead guided towards taking over smaller operators (not that there's many small operators left to take over). MTR may see some value both in terms of building a presence that is not as vulnerable to government whim and in terms of being able to quickly and easily augment Metro's busiest rail corridors with buses until such time that the investment is made to expand them (such as triplicating Caulfield-Dandenong). Keolis may also take a similar view, albeit without the ability to blend bus and tram operations. Veolia may see GTM as a way to get back in the Victorian transport game, while other large multinational operators may view GTM as a means to get into Victoria to start off with.