TRANSDEV Announces Acquisition Agreement with Limocar Inc.

    MONTREAL, March 29 /CNW Telbec/ - TRANSDEV International Public
Transportation Group today announced the signing of a contract to acquire
Limocar Inc., one of the leading bus transportation companies in Quebec.
    Under the terms of the agreement, TRANSDEV will acquire 100 percent of
the outstanding shares in Limocar, a privately held firm founded in 1979 by
shareholders Claude St James and Michel Laroche. The long standing partners
will continue to be involved in Limocar, as members of the Canadian Board of
Directors and through Gestion Limo-Bilier, their joint real estate company
that manages the facilities used by the bus company.
    TRANSDEV operates and manages bus, tram, rail and river ferry transport
networks in France, the United Kingdom, Portugal, Italy, Germany and
Australia. TRANSDEV operates 89 urban public transportation networks and 44
intercity networks. The Group also has worldwide expertise in operating tram
systems. The acquisition of Limocar is TRANSDEV's first entry into the
Canadian transportation market.
    Limocar is one of the highly regarded mass transit companies in Quebec
and is a leading provider of urban and suburban public transportation. The
company works in conjunction with over 40 municipalities in the province and
their CITs (Conseils Intermunicipaux de Transport), including CIT de la Vallee
du Richelieu and CIT Laurentides. Limocar also operates the
Montreal-Sherbrooke intercity route and is a leading school bus operator in
the southwestern Montreal and Sherbrooke areas.
    "Limocar provides us with an excellent platform for growth, fitting well
with our management style, values and corporate strategy," said Jean-Philippe
Lally, TRANSDEV's Innovation and Development Director. "Following our
expansion in Europe and Australia, Canada represents a strategic interest for
TRANSDEV and Limocar will be the platform for growth in Quebec and the rest of
    "The business is well-positioned in the key Montreal region, delivers
outstanding quality of service and is dedicated to working in partnerships
with municipalities and government to bring public transport to new level. We
are impressed with the Company's performance and intend to leverage our
international expertise with that of the Limocar team to achieve this goal"
said Paul Wren, TRANSDEV's Business Development Director.
    "TRANSDEV is a recognized international leader in the delivery of quality
public transportation services. The combination of our capabilities will
ensure that Limocar's customers will continue to receive exceptional value and
service," said Claude St-James. Michel Laroche added, "We are very pleased to
be part of this team and look forward to the opportunities it will provide to
our clients and employees."
    Synergis Capital Inc., a Montreal based investment banking firm and
Canadian partner of Global M&A, served as TRANSDEV's preferred financial
advisor on the transaction.

    About Limocar

    Limocar was founded by entrepreneurs Claude St James and Michel Laroche
in 1979. Over the years, through a series of mergers and acquisitions, Limocar
became a market leader in bus transportation. The company operates 320
vehicles with the capacity to transport four million passengers a year, and
has 435 employees. Limocar provides public transport service to over 40
municipalities through contracts with the CIT de la Vallee du Richelieu and
CIT Laurentides. It operates the Montreal-Sherbrooke intercity route providing
daily bus service to about 15 municipalities in the Eastern Townships region.
Limocar has been engaged in the transportation of school children for close to
25 years. It operates about 130 routes, throughout Quebec, and it is one of
the leading school bus transporters in southwestern Montreal and the
Sherbrooke areas. For more than 25 years, Limocar has developed very specific,
added-value expertise in urban and suburban shared-ride services.

    About TRANSDEV

    TRANSDEV, a subsidiary of Caisse des Dépôts et Consignations (CDC) is one
of Europe's largest public transportation operators. With 9 tram networks
(Grenoble, Melbourne, Montpellier, Mulhouse, Nantes, Nottingham, Orléans,
Strasbourg, Valenciennes), 2 under construction (Tenerife, Madrid), 2 in the
planning stage (Edinburgh, Reims), and 2 subway systems in operation (Porto,
Genoa), TRANSDEV is a world leader in the market. Through 89 urban networks,
44 interurban networks in France, Great Britain, Spain, Portugal, Italy,
Germany and Australia, TRANSDEV transports more than one billion passengers
each year. The Group manages a fleet of 10,000 buses and coaches, 950 tram
vehicles, 92 subway cars, 20 rail vehicles, and 23 passenger ferries. It has
more than 30,000 employees, including 14,000 outside France. Its annual sales
are 1.9 billion euros.

For further information:

For further information: Press Contact Canada: Veronique Arsenault,
Morin Public Relations, (514) 289-8688 extension 221, Toll free: 1 877
289-7007, Cell phone: (514) 923-9371,; Press Contact
France: Marie-Catherine Beaudoux, TRANSDEV, 01 41 09 23 15, 06 80 08 41 36,; Source: TRANSDEV, Limocar

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