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28 August 2001

COMPLETION OF ACQUISITION OF SOUTH CENTRAL FRANCHISE
Go-Ahead is pleased to announce that on 26 August its 65% owned subsidiary, GOVIA, has completed the acquisition of Connex South Central Limited and has consequently taken over the management and running of the South Central franchise.

The terms of the transaction are in accordance with those announced on 30 May 200l.

Negotiations continue to progress between GOVIA and the Strategic Rail Authority to finalise a new 20 year franchise to operate the South Central network which is on schedule for signing in 2002. At that time the newly branded New Southern Railway will be launched.

Martin Ballinger, Group Chief Executive of Go-Ahead, said:

“The delayed acquisition of the South Central franchise means that we can at last move ahead and start working towards our objective of providing passengers with the safe, reliable and comfortable service for which they have been waiting so long.”

 

 
       
   
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