Egypt's 'Go Bus' Seeks to Sell Minority Stake to Strategic Investor in the Second Half

Sada News - The Egyptian 'Go Bus' group, specialized in the transport sector, aims to sell a non-controlling minority stake to a strategic external investor with expertise in the transport sector during the second half of this year. The group has appointed 'EFG Hermes' as a financial advisor for the deal, according to Samah Attallah, the CEO and managing director of the group, in statements to 'Asharq'.

Attallah mentioned during his conversation with 'Asharq' that several Arab and foreign entities have expressed interest in investing in the company, with the goal of implementing the deal in the second half of 2026, either by purchasing a stake from current shareholders or through capital increase. He added that the group has appointed 'KPMG' as an independent financial advisor as part of a restructuring plan to transform into an institutional entity.

'Go Bus' was founded in 1998 as a joint-stock company operating in passenger transport, owning several brands, including: 'Go Bus', 'Go Mini', 'Go Limo', 'Go Express' for goods transport, as well as 'Go Bus B2B' which was launched in 2025.

IPO in Egypt

Attallah clarified to 'Asharq' that 'Go Bus', which transports between 4 to 5 million passengers annually, will later consider the option of an IPO in the Egyptian stock market, emphasizing that the current priority is to bring in an investor with operational expertise in the transport sector.

The company borrowed approximately €10.6 million from the European Bank for Reconstruction and Development last September, in cooperation with the European Union, aimed at expanding its operations and renewing its fleet by purchasing up to 30 new buses, in addition to 6 small electric buses for short routes and 3 other electric vehicles for urban trips.

Expansion in Saudi Arabia and Fleet Plans

Regarding external expansion, Attallah told 'Asharq' that 'Go Bus', which began its first expansion into the Saudi market in the second quarter of 2025, currently owns about 60 large buses there, with plans to add 100 buses annually, aiming to achieve an operating size similar to its activity in Egypt within three years.

In the local market, he clarified that the company's fleet in Egypt includes about 400 vehicles, of which nearly 240 are buses, in addition to minibuses and limousine services, aiming to increase the fleet size by 20% or more during the next year.