FlixMobility, a German coach and rail company, will buy Greyhound Lines from its British parent company. The sale marks a major step forward for the bus service in US, the company said.
German bus service FlixBus' parent company, FlixMobility, on Thursday announced it will acquire the iconic Greyhound Lines, expanding its base in the United States.
FlixMobility will pay €148 million ($172 million) in cash to FirstGroup, the British owner of Greyhound, North America's largest motor coach operator.
A portion of the money will be used to pay down Greyhound's liabilities and leases.
Greyhound serves 2,400 destinations in North America and carries almost 16 million passengers annually.
"The purchase brings together FlixBus' innovative global technology and shared mobility expertise with Greyhound's iconic nationwide presence and experience," the European coach and rail company said in a statement.
"The acquisition of Greyhound is a major step forward in the US," Jochen Engert, CEO of FlixMobility said.
"The Flixbus and Greyhound teams share a common vision to make smart, affordable, and sustainable mobility accessible to all," he added.