31 October 2012
FIRSTGROUP PLC ("The Group")
Disposal in UK Bus
Sale of Wigan bus business
As part of the Group's stated strategy to reposition its UK Bus division to
focus on those areas that offer the greatest potential for growth, we are
pleased to announce the sale of our Wigan bus business to Stagecoach Group plc
for a consideration of £12.0m. On completion of the sale our Wigan bus depot as
well as some leased premises in Wigan bus station, staff facilities and around
120 vehicles and approximately 300 employees will transfer to Stagecoach.
Commenting Tim O'Toole, Chief Executive said:
"The sale of our Wigan bus business marks continued progress in our programme
of selected asset and business disposals as we review the scope and scale of
our UK Bus portfolio and reposition it for the longer term. With a clear focus
we are working through a detailed plan to recover performance in our UK Bus
division and equip the business to achieve sustainable growth and improved
returns."
Contacts FirstGroup plc:
FirstGroup plc:
Rachael Borthwick, Group Corporate Communications Director
Stuart Butchers, Group Corporate Communications Manager
07771 945432 / 07713 317979
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.