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Nakedbus.com today announces the acquisition of Pavlovich
PRESS RELEASE
For Immediate Release
17 June 2011
Nakedbus.com today announces the acquisition of
Pavlovich Group interests in Nakedbus NZ
Limited.
Nakedbus.com Group and Pavlovich Group announced today that
nakedbus.com has accepted an offer from Pavlovich Group to acquire Pavlovich’s shareholding and routes in Nakedbus NZ Ltd.
"Pavlovich's CEO Bernard Pavlovich commented that the sale of their Nakedbus shares will allow Pavlovich's to place their focus on other core business activities"
Hamish Nuttall, nakedbus.com founder and CEO added “With its signature $1 fares, nakedbus.com has revolutionised travel in New Zealand. This consolidation will enable us to expand the market further We would like to thank Pavlovich Group for their involvement in the first five years of nakedbus.com and wish them well for the future. “
Formal agreements and route transfers will be effective on July 1, 2011.
ENDS
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