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jorge cosmen

December 3, 2009

Jorge Cosmen is not stupid – or so one would presume, given that he is a leading representative of one of Spain’s most successful business families. But his attempts to put his family at the heart of the UK transport industry have exposed the difficulties in dealing with listed companies.

Jorge Cosmen is not stupid – or so one would presume, given that he is a leading representative of one of Spain's most successful business families. But his attempts to put his family at the heart of the UK transport industry have exposed the difficulties in dealing with listed companies.

The family, which traces its involvement in the transport business back to 1728, built up the largest bus service in Spain and operates successful transport companies in China and South America.

November 27, 2009

The Cosmen family, the largest shareholders in the indebted UK transport group National Express, failed to gain enough support to prevent a £360 million rights issue, which was given the go-ahead today.

The Cosmen family, the largest shareholders in the indebted UK transport group National Express, failed to gain enough support to prevent a £360 million rights issue, which was given the go-ahead today. 

At an extraordinary general meeting of shareholders held in London this morning, 66.8% voted in favour of the rights issue, which required at least 50% support to be passed.

November 24, 2009

The Cosmen family, the largest shareholder in the indebted UK transport group National Express, has increased its stake in the company to just under 20%.

The Cosmen family, the largest shareholder in the indebted UK transport group National Express, has increased its stake in the company to just under 20%.
 
Last night the family bought an additional 750,000 shares, increasing its holding to 19.5%. A family spokesperson said it intended to show the family is "committed and long-term shareholders in National Express."

November 11, 2009

National Express, the indebted UK-transport company, announced this morning it is to proceed with a £360 million rights issue despite a lack of support for the move from the group’s largest shareholder, the Cosmen family.

National Express, the indebted UK-transport company, announced this morning it is to proceed with a £360 million rights issue despite a lack of support for the move from the group's largest shareholder, the Cosmen family.

In a statement released this morning, National Express said it was struggling with debts of approximately £1.1 billion and it hoped to use the proceeds of the rights issue to reduce debt to a more manageable level.

November 2, 2009

Spain’s Cosmen family, the largest shareholder in UK-transport group National Express, has denied rumours over the weekend that Jorge Cosmen is to resign as deputy chairman of the company.

Spain's Cosmen family, the largest shareholder in UK-transport group National Express, has denied rumours over the weekend that Jorge Cosmen is to resign as deputy chairman of the company.

On Sunday a spokesman for the family said: "Jorge Cosmen is not thinking of resigning. The Cosmen family continues to be committed as a long-term shareholder of National Express."

October 30, 2009

The Cosmen family, the largest shareholders in the UK transport group National Express, has today criticised the company’s handling of the proposed merger with rival Stagecoach Group.

The Cosmen family, the largest shareholders in the UK transport group National Express, has today criticised the company's handling of the proposed merger with rival Stagecoach Group.

September 2, 2009

The Cosmen family and the private equity group CVC, who are attempting to takeover the distressed UK transport group National Express, are looking for ways to improve their takeover bid after a second offer was rejected.

The Cosmen family and the private equity group CVC, who are attempting to takeover the distressed UK transport group National Express, are looking for ways to improve their takeover bid after a second offer was rejected.

August 28, 2009

The Cosmen family has experienced a further setback today in its attempt to acquire National Express, the distressed UK transport group, as the company’s other main shareholders have indicated they will not back its bid.

The Cosmen family has experienced a further setback today in its attempt to acquire National Express, the distressed UK transport group, as the company's other main shareholders have indicated they will not back its bid.
 

August 3, 2009

National Express, the distressed UK transport group, is considering a £350 million rights issue that would allow the company to remain independent.

National Express, the distressed UK transport group, is considering a £350 million rights issue that would allow the company to remain independent. This news is a serious setback in the Cosmen family's attempt to buyout the company.

The fundraising is being worked on by investment banks Merrill Lynch and Morgan Stanley and has the support of major National Express shareholders 

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