Spain Cosmen May Buyback National Express’ Alsa, Expansion Says

Elliott Advisors UK Ltd. may seek the separation of National Express Group Plc (NEX)’s businesses, a move that would allow the Spanish Cosmen family to buy back the Alsa unit, Expansion reported, citing a letter from Elliott.

The Cosmen family, National Express’ largest shareholder with a 17.08 percent stake, would be in a privileged position to buy back Alsa, the newspaper said. Alsa is the Spanish bus unit of National Express; the U.K. transport operator bought Alsa in 2005 for 600 million euros ($845 million), the newspaper said.

Elliott, the second-largest shareholder in National Express, proposed to name three new independent directors yesterday as it looks to sell its U.K. bus and train businesses, Expansion said.

To contact the reporter on this story: Manuel Baigorri in Madrid at

To contact the editor responsible for this story: Angela Cullen at

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