Iconic global transport company, Greyhound, is auctioning off its South African assets next month.
After announcing in early February this year that it would be shutting down its services in South Africa, Greyhound, one of the world’s most popular transporters, will auction off its local assets between 15-16 September 2021. This includes assets from Citiliner, the semi-luxury division of Greyhound that provided services to Mthatha, Harare and Bulawayo in Zimbabwe. Citiliner is said to have has transported more than 500 000 passengers each year over eight million kilometres since its inception in 2005.
According to a statement received by theplanner.guru on Friday afternoon, Van’s Auctioneers will be auctioning buses, trailers, permits and brands of the Greyhound and Citiliner brands online.
“The vast and modern vehicle stock holding of Greyhound and Citiliner offers prospective purchasers the opportunity to either increase capacity in their existing passenger transportation operation, or to start an entirely new operation. The buses and trailers are in excellent condition and immediately operable. Besides the physical assets of the business, the auctioning of the local route permits is a key factor in successful bidders being able to commence operations immediately, and on a national basis. Van’s Auctioneers is extremely proud to be given this opportunity by Unitrans to facilitate this unique online auction of one of South Africa’s best-known brands,” notes Johan van Eyk of Van’s Auctioneers.
While the public sale of brand assets is said to be a relatively new trend in the auction space, interested participants can also bid for Greyhound as an ongoing, active entity in South Africa.
Going concern
Greyhound is a well-established brand globally and in South Africa, it was the first luxury coach operator to run a service between the country’s major cities as well as other city centres in neighbouring Zimbabwe and Mozambique.
The auction in September will be comprised of eight lots across Cape Town and Johannesburg as follows:
Lots 1-4: 66 Buses and 27 trailers, including all operating licenses available for transfer
Lot 5: Greyhound and Citiliner brands and logos
Lot 6-7: Spares (Johannesburg and Cape Town)
Lot 8: Lock, stock and barrel as a going concern
“It’s an exceptional opportunity to buy an existing and well-established brand that has massive recognition in the market, built up over almost 40 years of operating, marketing, advertising and consumer goodwill. Not only does an auction format bring urgency and closure to intellectual property transactions, it also provides absolute transparency for the market overall,” comments Johan.
Transparency, he says, is a key factor in the auction going the online route.
“The Van’s online bidding platform is one of the best in the industry, guarantees absolute confidentiality and complies with the POPI Act. Online bidding also means that in a highly competitive industry, all role players with internet connectivity can participate fairly and equally and are no longer hindered by geographical limitations. It’s a very objective way of ensuring that the best bid gets accepted and since bidding is based on prior analysis and research of the assets on offer, it ensures that the value of the commodities on offer are entirely market-related,” Johan concludes.
