Bravo Transport

Bravo Transport was set up as a consortium between Templewater (90.8%), Hans Energy (8.6%) and Ascendal Group (0.6%).{{cite web|url=https://www.nws.com.hk/pdf/en/20208212092220792.pdf|title=Disposal of the entire issued shared capital of NWS Transport Services Limited|publisher=NWS Holdings|date=August 2020|access-date=24 January 2022}} Templewater is a private equity fund founded by Investec Bank and Cliff Zhang.{{cite web|url=http://www.bravobus.com.hk/about/careerDetails.aspx?intJobID=205&intLangID=1|title=Career Opportunities|website=Citybus & NWFB|access-date=24 January 2022}} Hans Energy is an energy company listed on the Hong Kong Stock Exchange.{{cite web|url=https://www.ascendalgroup.com/wp-content/uploads/2020/08/20200821-NWST-press-release_EN.pdf|title=International consortium acquires First Bus and Citybus|publisher=NWS Holdings & Templewater|website=Ascendal Group|date=21 August 2020|access-date=22 January 2022}} Ascendal is a United Kingdom-based bus company founded by Adam Leishman in 2018 and has operations in Cambridgeshire and Chile.

On 21 August 2020, it was announced that Bravo Transport would acquire NWS Transport Services for {{HKD|3.2 billion}} from NWS Holdings, including the subsidiaries of Citybus and New World First Bus (NWFB). At the time, the two subsidiaries were two of the five

main bus operators in Hong Kong.[https://web.archive.org/web/20200924230843/https://www.thestandard.com.hk/breaking-news/section/4/153644/Private-equity-fund-Templewater-buys-Citybus-and-New-World-First-Bus-in-HK$3.2b-deal Private equity fund Templewater buys Citybus and New World First Bus in HK$3.2b deal] The Standard 21 August 2020Hong Kong sale saves jobs Buses issue 787 October 2020 page 20 Ascendal acts as the operating partner in the consortium, with founder Leishman becoming the CEO of Bravo Transport.{{cite web|url=https://www.marketing-interactive.com/parent-company-of-citybus-and-new-world-first-bus-mulls-merging-option|title=Parent company of Citybus and New World First Bus mulls merging option|publisher=Marketing Interactive|date=30 July 2021|access-date=24 January 2022}}

In October 2020, the acquisition was finalised, and NWS Transport Services was also renamed Bravo Transport, along with the announcement of a new Chinese name for the company. Three potential logo designs were also shortlisted and employees were invited to vote on their preferred design.{{Cite web |url=https://hk.on.cc/hk/bkn/cnt/news/20201029/bkn-20201029123032759-1029_00822_001.html |title=新巴城巴母公司新創建交通易手 改名「匯達交通」 |date=29 October 2020 |website=Oriental Daily News |access-date=27 May 2025 |language=zh}} The preferred logo was announced on 9 November 2020.{{cite web|url=https://www.hk01.com/%E7%A4%BE%E6%9C%83%E6%96%B0%E8%81%9E/546691/%E6%96%B0%E5%B7%B4%E5%9F%8E%E5%B7%B4%E6%98%93%E6%89%8B-%E6%96%B0%E5%85%AC%E5%8F%B8%E5%BE%BD%E8%99%9F%E7%94%A8b%E5%AD%97%E5%8A%A0%E7%AE%AD%E5%92%80-%E5%B7%B4%E5%A3%AB%E8%BF%B7%E5%8D%80%E8%AD%B0%E5%93%A1-%E5%A4%AA%E5%A4%9A%E9%A1%8F%E8%89%B2|title=新巴城巴易手｜新公司徽號用B字加箭咀 巴士迷區議員：太多顏色|trans-title=New company logo with B and arrow bus fans District Councillor: too many colors|publisher=HK01|language=zh|date=9 November 2020|access-date=25 January 2022}}

In October 2021, Bravo Media, was appointed the agency for the company's exterior and interior bus advertising concessions, commencing on 1 November 2021. Bravo Media would be the exclusive agency of bus advertising until 30 June 2023. In doing so, Bravo Transport terminated its existing three-year contract with Bus Power Limited mutually under pre-agreed terms.{{cite web|url=https://www.marketing-interactive.com/citybus-and-nwfb-takes-bus-exterior-advertising-agency-in-house-with-bravo-media|title=Citybus and NWFB take bus exterior advertising agency in house with Bravo Media|publisher=Marketing Interactive|date=28 October 2021|access-date=25 January 2022}}{{cite web|url=https://www.bravobus.com.hk/en/uploadedPressRelease/18822_26102021_eng.pdf|title=Bravo Media Appointed as the Exclusive Agency of Citybus and NWFB Bus Body Advertising Concessions|publisher=Bravo Transport|date=26 October 2021|access-date=25 January 2022}} The contract with Bus Power was signed before Bravo Transport's acquisition in July 2020.

In December 2021, it was announced that Hans Energy has agreed to acquire an additional 7% shareholding in Bravo Transport. This would alter the shareholding of the company to Templewater (83.9%), Hans Energy (15.56%) and Ascendal (0.54%).{{cite web|url=https://www.bravobus.com.hk/en/uploadedPressRelease/18900_03122021_eng.pdf|title=Hans Energy to Increase Shareholding in the Holding Company of Bravo Transport|publisher=Bravo Transport|date=3 December 2021|access-date=25 January 2022}} {{As of|2022|1}}, this has not been finalised.

In January 2022, Bravo Transport sold most of its Octopus Holdings Limited stake to MTR Corporation, and the small remainder to another company.{{cite web|url=https://www.bravobus.com.hk/en/uploadedPressRelease/19053_24012022_oct_eng.pdf|title=Bravo Transport Agrees to Sell its Stake in Octopus to MTR Corporation|publisher=Bravo Transport|date=24 January 2022|access-date=25 January 2022}} This was attributed to the continued losses the company was facing due to COVID-19 impacts on its airport and cross-border routes.

In May 2024, it was announced that Hans Energy would acquire additional 54.44% shareholding in Bravo Transport from Templewater and Ascendal, making Hans Energy the largest shareholder of the company (70%) while Templewater remain 30% of the shareholding and Ascendal would no longer have control of the company.{{Cite web |date=2024-05-24 |title=Shareholding Restructure Cements Future with Hans Energy Becoming Citybus’ Majority Shareholder |url=https://www.citybus.com.hk/en/uploadedPressRelease/20954_20240524_ENG.pdf |access-date=2024-05-24 |website=Citybus Limited }}{{Cite web |date=2024-05-24 |title=(I) EXTREME TRANSACTION IN RELATION TO THE ACQUISITION OF 54.44% OF THE TOTAL ISSUED SHARES OF THE TARGET COMPANY; AND (II) ISSUE OF CONSIDERATION SHARES UNDER SPECIFIC MANDATE |url=https://www.hansenergy.com/wp-content/uploads/2024/05/I-EXTREME-TRANSACTION-IN-RELATION-TO-THE-ACQUISITION-OF-54.44-OF-TOTAL-THE-ISSUED-SHARES-OF-THE-TARGET-COMPANY-CITYBUS-PARENT-COMPANY-BTHL-AND-II-ISSUE-OF-CONSIDERATION-SHARES-UNDER-SPECIFIC-MANDATE.pdf |access-date=2024-05-24 |website=Hans Energy }} The transaction was completed on 31 July that year.{{Cite web |date=2024-07-31 |title=(I) COMPLETION OF EXTREME TRANSACTION IN RELATION TO THE ACQUISITION OF 54.44% OF THE ISSUED SHARE CAPITAL OF THE TARGET COMPANY; AND (II) COMPLETION OF ISSUE OF CONSIDERATION SHARES UNDER SPECIFIC MANDATE |url=https://www.hansenergy.com/wp-content/uploads/2024/07/e554_23682_AD1-Hans-Energy_ESS.pdf |access-date=2024-07-31 |website=Hans Energy }}

In July 2021, Leishman admitted that to keep business sustainable, a possible option would be a merger between both Citybus and NWFB. He said that there were no firm plans on this option and it would be dependent on the renewal of two bus franchises expiring in 2023. He attributed the loss of ridership due to COVID-19 and the opening of the Tuen Ma line.

In July 2022, Bravo Transport announced that it would be discontinuing the New World First Bus brand, and the NWFB operations merged into Citybus on 1 July 2023 when the bus franchises were renewed.{{cite web|url=https://www.bravobus.com.hk/en/uploadedPressRelease/19336_12072022_Bravo_eng.pdf|title= Bravo Transport Announces the Merger of Citybus and NWFB Franchises into the Newly Created Citybus (Franchise for Urban and New Territories Network)|publisher=Bravo Transport|date=12 July 2022|access-date=16 July 2022}}

• Transport International - parent company of rival operator Kowloon Motor Bus

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• [https://www.bravobus.com.hk/home/default.aspx?intLangID=1 Bravo Transport website] (in English)

Category:Bus companies of Hong Kong