Stagecoach bags FirstGroup's Wigan bus operations
The £12 million deal includes a depot and about 120 vehicles
By CFOWorld.co.uk staff | CFO UK | Published 15:06, 31 October 12
Transport group Stagecoach has acquired FirstGroup’s bus operations in Wigan, Greater Manchester in a deal worth £12 million.
The acquisition, announced on Wednesday, was made via Stagecoach’s subsidiary Greater Manchester Buses East. A spokesperson for Stagecoach told CFOWorld that the deal, which includes a depot in Wigan and about 120 vehicles, will be completed in December.
Stagecoach UK Bus managing director Les Warneford said, "We have a strong track-record of attracting more people to bus travel and these new operations will expand our successful high-quality operations in other parts of Greater Manchester."
At present, Stagecoach runs over 600 buses and employs 1,850 staff in the Greater Manchester area with an average carriage of 100 million passengers per annum.
FirstGroup chief executive Tim O'Toole 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.”
Share:Facebook Twitter Google Plus Stumble Upon Reddit Share This Email this article
A whole new model with less staff, more focus on intellectual capabilities and localised staffing is evolvingmore ..
BHP Billiton announced plans to separate its main business to simplify the group and boost shareholder valuemore ..
Government hopes that 95 percent of the population will have superfast broadband by 2017more ..
Value of deals up 132 percent in first half of 2014more ..
BMW’s outage illustrates the minefield manufacturers are navigating in light of the connected carmore ..
There are just 16 female executives in the first five FTSE 100 companies and technology firms fare even worsemore ..