National Express Group PLC (NEG), a leading international public transport group, acquired in a share transaction on July 4, 2002 the Canadian school bus operator, Stock Transportation, for a total cash consideration of approximately $170 million.
The acquisition will increase NEG’s school bus fleet in North America, which is operated by National Express Corporation, by 25 per cent. As a result of the acquisition, NEG is the second-largest school bus operator in Canada.
Miller Thomson LLP acted as Canadian counsel to NEG, with a team comprised of Gerald Courage (tax), Michael Pace, Jeff Woodlock and David Savarie (corporate), Andrew Roman (competition and regulatory), Hugh Dyer (labour and employment), Greg Callahan (employee benefits) and John Tidball (environmental). Gardere Wynne Sewell LLP in Houston acted for NEG in the U.S., with a team comprised of Frank Putman, Daniel Cohen and Jane Hammond (corporate), Allen Craig (tax) and Randy Jones (real estate).
Aird & Berlis LLP acted for Stock, with a team comprised of Jack Bernstein and Henry Chong (tax), Jim Matthews, Lisa Marcuzzi and Kim Myers (corporate), Barbara Lawrie (employee benefits), Randy Hooke (real estate), Michael Bourassa (environmental) and Doug Palmateer (lending). Timothy Samson of Thompson & Knight LLP in Houston and Hayley Clarke of Patterson Palmer in Nova Scotia acted as agency counsel to Aird & Berlis.