General Atlantic enters German long distance bus business-Reuters

(Reuters) – Buyout group General Atlantic is taking a stake in German bus companies FlixBus and MeinFernbus, which are merging to combine their routes, the companies said in a statement on Wednesday.

The German bus market attracted a raft of new entrants when it was liberalised in 2013, but several players have already dropped out due to stiff competition.

MeinFernbus operates 560 busses, more than twice the 240 owned by FlixBus.

The combined business, currently majority-owned by the company’s founders, has so far transported a combined 14 million passengers in both 2012 and 2013.