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Rotala PLC - bus operations at Heathrow airport and in West Midlands and North West - Acquires principal Burton-on-Trent bus operator Midland Classic Ltd for £2 million in cash. In addition, Rotala pays £577,000 to once of Midland's shareholders to repay existing loan of same sum.
Midland Classic will become part of Rotala's Midlands division and will be renamed Diamond Bus East Midlands Ltd, reflecting an extension of Rotala's business into a new territory in the East Midlands.
Acquisition funded through Rotala's existing debt facilities.
Current stock price: 34.00 pence
12-month change: up 17%
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