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A joint venture between Downer EDI Limited (ASX:DOW) and public transport operator Keolis has struck a deal to buy Australian Transit Enterprises (ATE). 

 

Keolis Downer has pursued the $163 million acquisition to help its expansion plans, both geographically and into new modes of public transport. 

 

Australian Transit Enterprises is described as one of Australia’s largest route, school and charter bus businesses operating a fleet of more than 900 buses.

 

Keolis Downer hopes the acquisition will enable it to expand into substantial bus operations and also into South Australia and Western Australia. 

 

Downer EDI reported a net profit of $94.7 million in the first half of the 2015 financial year.