FirstGroup sells Greyhound services in North America | Information

FirstGroup has bought three main bus services in North America for a complete of £102 million.

The Aberdeen-based agency stated the transfer was a part of a unbroken drive to rationalise its Greyhound bus property portfolio.

The disposals embrace a storage and buyer terminal facility in Los Angeles, in addition to services in Denver, Colorado, and Ottawa, Canada.

The transport large reported a complete revenue for the three transactions of about £73 million.

The money proceeds can be used for “common company functions,” FirstGroup stated.

The corporate bought six smaller “surplus areas” within the first half of the monetary 12 months.

Numerous different “property gross sales processes” are additionally below method.

The transfer comes as FirstGroup seeks to drag out of North America with a view to concentrate on its UK bus and rail operations.

It confronted rising stress earlier this 12 months from an activist investor to separate off its North American operations.

The group, which has been attempting to promote its Greyhound US intercity bus service since 2019, confirmed final month that it remained in discussions with at the very least one unnamed occasion over a possible sale.

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