Stagecoach staff 'still needed' despite takeover

Transport company Stagecoach is reassuring its staff they will still be needed despite an imminent takeover from Infratil.

The infrastructure investor is buying Stagecoach's bus and ferry business for $250 million.

Stagecoach New Zealand executive chairman Ross Martin said the transaction does not change any employee conditions. He said the company has 2,000 staff and it is working to let them know what is happening. Martin said the deal will be completed next week.

Mr Martin says changes to public transport are needed in Wellington and Auckland to solve congestion and pollution problems. He says the Government is keen to put more money into public transport and Infratil wants to add value to that market.

He also said the deal does not mean there will be any change to employee conditions.

- NEWSTALK ZB