Latham Advises the CMC Group and Asterion Industrial Partners on Their Recommended Cash Offer for Mobico Group plc

Latham & Watkins is advising Autobuses de León, S.L., a company jointly held by the CMC Group (the family office of the Cosmen family and the largest shareholder of Mobico Group) and Asterion Industrial Partners, on its recommended cash offer for Mobico Group plc (formerly National Express Group plc), a diversified transport business with operations spanning coach, rail, bus, shuttle, and paratransit in Europe, the US, North Africa, and the Middle East.

The transaction values the entire issued and to be issued ordinary share capital of Mobico Group plc at approximately £308 million, with an implied enterprise value of approximately £2.3 billion.

The Latham team was led by corporate partner Doug Abernethy and finance partner Pedro de Rojas, with partner Harriet Stephenson and associates Alayna Kenney, Isabella Coutts, and Thomas Farrell. Spanish corporate advice was provided by Ori Assa and Elena Martínez de Luco.

Advice on financing matters was led by partner Hendrik Smit, with partners Manoj Tulsiani and Misa Schmiederova, and associates Phil Cerny, Tom Breheny, Oscar Lopez, Emma Lynam, and Pamela Wei Jing Ng. Advice on hedging matters was provided by partner Delyth Hughes, with associates Nick Surry and Airlia Hie.

Advice was also provided on antitrust and regulatory matters by partners José María Jiménez-Laiglesia, Stephanie Adams, and Nicola Higgs, with counsel Carlos Betoret and Ngoc Hulbig, and associates Meera Manoj and Telmo Iriondo; on employment and benefits matters by partner Sarah Gadd, with counsel Kate Crompton and associates Ellie Wilson, Joseph Goddard, and Jia Lui; on tax matters by partners Sean Finn, Iván Rabanillo, and Jordi Domínguez, with counsel James Leslie and associate Tom O’Malley; on real estate matters by partner Quentin Gwyer, with associate Caroline Taylor; on data and technology matters by partner Richard Offord, with associates Oscar Bjartell and Yinka Ogboye; on German corporate matters by associates Simon Wizemann and Dominique Brieger; on US corporate matters by associates Joseph Maurantonio and Sean Kim; and on ESG matters by partner Michael Green, with associate James Bee.