CMC Group and Asterion offer €338 million for Mobico

CMC Group and Asterion Industrial Partners have launched a non-binding takeover bid for Mobico, the British mobility group that owns the Spanish bus operator Alsa. The proposal, structured through Autobuses de León (AdL), offers 46 pence per share, representing a premium of approximately 59% over the recent reference price of 29 pence.

The total value of the offer is estimated at roughly £283 million to £285 million (approximately €338 million to €339 million) for 100% of the company. CMC Group is already a major shareholder in Mobico, holding a 26% stake. The bid aims to take the company private following financial challenges that led Mobico to divest its US business and restructure operations in Germany.

Mobico's independent directors have reviewed the proposal and indicated they may recommend it to shareholders, provided a formal intention to bid is announced and definitive terms are reached. Following the news, Mobico's shares saw a significant increase in market value. Alsa remains the group's flagship subsidiary, accounting for 53.5% of Mobico's revenue in 2025.