Stagecoach’s Souter Bids $861 Million for Istanbul Ferry Co
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Souter Investments LLP, owned by U.K.-based Stagecoach Group Plc’s founder Brian Souter, and three Turkish partners won an auction to buy 30-year rights to operate Istanbul ferry company IDO, bidding $861 million.
Souter and partners beat off rivals including shipping and ferry operator Stena AB and Koc Holding AS, Turkey’s biggest group of companies, Adem Basturk, head of the auction committee, told bidders and reporters in the city today.