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Mar 2020

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(Credit: Bus World)

09 Mar 2020

FirstGroup under pressure

Transport giant FirstGroup is facing renewed pressure from an activist investor to separate its North American operations.

Coast Capital, which holds more than 10% of First’s shares, said it planned to call an extraordinary general meeting to force the issue.

Two FirstGroup single-decker buses
FirstGroup has appointed advisers to formally look into selling its US assets
(Credit: FirstGroup)

Coast has long pushed for FirstGroup to demerge its First Student and First Transit units from its UK operations.

The investor said a demerger of the two US arms of the group would ‘create immediate value for shareholders’.

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