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Al Fahim Group buys 30% stake in Big Bus Company
Al Fahim Group, one of the largest family business groups in the UAE, has become a major strategic shareholder of the UK's tourist and travel operations, the Big Bus Company.
- By Mohammed Ezz Al Deen, Staff Reporter
- Published: 00:00 May 29, 2007
Abu Dhabi: Al Fahim Group, one of the largest family business groups in the UAE, has become a major strategic shareholder of the UK's tourist and travel operations, the Big Bus Company.
The group said yesterday it acquired a 30 per cent equity interest in the Big Bus Company.
Al Fahim is planning to expand the company operations and has appointed two directors to the Big Bus board, Rashid Al Fahim and Peter Beynon. The company gave no details about the value of the acquisition.
"We are delighted to be able to offer our tour in eight languages. It will open up the experience to the increasing number of different nationalities who are making Dubai their holiday destination," said St. John Cooper, general manager of the Big Bus Company in Dubai.
By joining with Al Fahim in a strategic partnership, the Big Bus Company will increase the pace of the internationalisation and geographical coverage of its unique tourist and travel brand. The group will also explore the expansion of its services to passenger bus operations in selected cities.
Portfolio
Al Fahim's existing interests already embrace travel and tourism and the automotive industry which clearly align with the Big Bus Company.
The Al Fahim international contacts, strategic real estate holding and financial strength will enhance the ability of Big Bus to meet its long-term aspirations.
"This new venture is consistent with the Al Fahim vision to provide quality services and products while serving the community at large. Al Fahim strives to embrace new ideas and eagerly seeks ways to build brands and build on existing successes," said Peter Beynon.
The Big Bus Company started its services in London in 1991 and set up similar services in Dubai in 2002.
Preparations are well underway to commence operations in Hong Kong this year.
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