New Flyer acquires NABI

Canada heavy duty bus manufacturer, New Flyer Industries Inc, has acquired North American Bus Industries Inc (NABI) from an affiliate of Cerberus Capital Management L.P. for a cash consideration of approximately £52m/$80m, virtually all for the satisfaction of affiliate debt. Alexander Dennis Ltd (ADL) formed a strategic alliance with New Flyer in May last year. Marcopolo SA acquired a 19.99% stake of New Flyer in January. 

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