17th Sep 2015 17:35
LONDON (Alliance News) - National Express Group PLC noted late Thursday that a court in Munich has upheld the Nuremberg S-Bahn contracts that it won earlier this year.
"We are pleased that the Higher Regional Court of Munich has judged our Nuremberg S-Bahn bid as valid and has not decided to restart the contract procurement process," the FTSE 250 public transport company said.
National Express had said in February that it won two 12-year contracts to run all services on the Nuremberg S-Bahn public transport system in Germany. The contracts, which were awarded following a competitive tender, are worth a total of EUR1.4 billion over their term.
The S-Bahn services in Nuremberg currently are operated by German national rail operator Deutsche Bahn AG, and National Express will take over the running from December 2018. It will buy 38 new electric five-car trains on behalf of the Bavarian passenger transport authority as part of the contract, it said in February.
"We stand ready to provide any information to the awarding authority so it can confirm the final award of the S-Bahn contract to us, and we can then provide the people of Nuremberg with the services they deserve," National Express said Thursday.
National Express shares ended down 1.2% at 290.20 pence on Thursday.
By Tom Waite; [email protected]; @thomaslwaite
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