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Dec 2019

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(Credit: Bus World)

17 Dec 2019

FirstGroup mulls US bus sale

Following pressure from shareholders, FirstGroup has announced the appointment of advisers to formally look into selling its US assets.

Investors have battered the under-fire bus and train firm over the past year, with calls to overhaul the entire boardroom and provide more clarity on its strategy.

FirstGroup
The group has said they would also look at selling First Bus
(Credit: FirstGroup)

The company previously hailed its US business, including First Student and First Transit, as ‘valuable assets and well positioned in markets with profitable growth’, although it said it would give any offers ‘serious consideration’.

Yesterday, however, FirstGroup said it had appointed advisers to ‘formally explore all options in respect of our North American contract businesses, First Student and First Transit, including a potential disposal’.

Bosses also said they would look at selling the First Bus business in the UK.

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