FirstGroup : pockets £125m as it sells Greyhound Lines to rail group FlixMobility
October 21, 2021 at 03:31 am EDT
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Transport firm FirstGroup has agreed the sale of its US long-distance coaches business Greyhound Lines to European coach and rail group FlixMobility for £125m.
The deal comes as part of FirstGroup’s move to focus on its UK transport business.
The firm said it will retain Greyhound properties, worth around £128m and lease them back to Greyhound, with plans to sell them after the next three to five years.
The post FirstGroup pockets £125m as it sells Greyhound Lines to rail group FlixMobility appeared first on CityAM.
FirstGroup plc is a private-sector provider of public transport services in the United Kingdom. The Company operates through two divisions: First Bus and First Rail. First Bus is a regional bus operator in the United Kingdom with a fleet of approximately 5,000 buses. It operates over 4,900 buses and serves two-thirds of the United Kingdom's 15 conurbations. First Rail is a rail operator that operates a fleet of approximately 3,800 rail vehicles. First Rail operates four major United Kingdom train operating companies, including Avanti West Coast, Great Western Railway (GWR), Southwestern Railway (SWR) and TransPennine Express (TPE), and two open access passenger rail services, Hull Trains, and Lumo. The Company's subsidiaries include First Aberdeen Limited, First Beeline Buses Limited, First Cymru Buses Limited, First Eastern Counties Buses Limited, First Essex Buses Limited, First Hampshire and Dorset Limited, First Manchester Limited, and First Midland Red Buses Limited.