State-owned Dutch railway company NS has bought a 49% stake in The Hague’s transport company HTM for €45m, the rail firm announced on Wednesday.
The rest of the shares remain in the hands of the city council. HTM operates as an arms-length independent company.
HTM and NS plan to invest €75m in improving public transport services and the links between rail, tram and buses. The Hague alderman Boudewijn Revis told news agency ANP the deal is ‘good news for travellers and the local economy’.
The plans for the alliance were already announced last year, and have been criticised by MPs because of the potential conflict of interests.
The NS also has a 49% stake in regional bus company Qbuzz.