Dan Public Transportation Agrees to Acquire Tnufa for 150 Million NIS
Dan Public Transportation has agreed to acquire bus operator Tnufa for 150 million NIS, expanding its fleet to 3,500 buses. However, the deal faces internal opposition from minority stakeholders.
Dan Public Transportation has reached an agreement to acquire the bus operator Tnufa for approximately 150 million NIS. However, the deal remains uncertain as minority partners of Tnufa's controlling stakeholder are currently opposing the acquisition, putting the transaction at risk.
Tnufa operates bus routes in the Jerusalem area and Samaria, generating annual revenues of around 400 million NIS from service mileage and fare collection. The company is owned by Maya Tour (30%), Eastlink Linker (30%), China Motors (22.5%), and Masei Shasha (17.5%). Notably, Dan acquired Masei Shasha last month from Aryeh Shasha for 180 million NIS.
Tnufa, established in 2020, owns a fleet of approximately 350 intercity buses. If completed, the acquisition will expand Dan's total bus fleet to around 3,500 vehicles. The development follows a prolonged public campaign led by Ariel Mayor Yair Shtaboun to improve public transport services for local residents.
