Optare Indian deal is secure

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A POTENTIAL battle over the future of British bus maker Optare has been resolved after Scottish group Alexander Dennis said it would not bid for the company, which has operations at Hellaby in Rotherham as well as plants in Leeds and Blackburn.

Alexander Dennis said it was interested in buying Optare after Indian group Ashok Leyland announced it would back a refinancing agreement in return for trebling its stake in Optare to 75.1 per cent.

However, Alexander Dennis pulled out after Ashok Leyland said it has no intention of selling its stake in Optare to anyone at any price.