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First Group sells US yellow bus business for £3.3bn – Daily Business


First Student operates in the US
Transport company First Group has sold its yellow school buses in the US in a deal worth £3.3 billion.
Aberdeen-based FirstGroup, which also runs bus and train services in Britain, announced that EQT Infrastructure is buying First Student and First Transit operations.
EQT Infrastructure is affiliated to the Sweden-based private equity firm EQT.
Part of the proceeds of the sale will be used to pay down debt, with a chunk of the capital received also likely to be handed to FirstGroup’s pension schemes.
The announcement comes more than a year after FirstGroup formally kicked off the auction, which faced significant disruption as a result of the coronavirus pandemic. ....

United States , United Kingdom , City Of , Matthew Gregory , David Martin , First Group , First Student , First Transit , United Kingdom Bus , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , நகரம் ஆஃப் , மேத்யூ கிரெகொரி , டேவிட் மார்டின் , முதல் குழு , முதல் மாணவர் , முதல் போக்குவரத்து , ஒன்றுபட்டது கிஂக்டம் பேருந்து ,

Aberdeen's FirstGroup sells US school buses in £3.3bn deal


Getty Images.
Train and bus operator FirstGroup has completed the sale of two US divisions for £3.3 billion, the company has announced.
The Aberdeen-based transport giant has offloaded the First Student and First Transit businesses to EQT Infrastructure more than a year after first announcing plans to quit North America following pressure from activist investors.
First Student operates around 43,000 highly-distinctive school buses in the US, while First Transit runs local bus and transport services.
The cash raised from the deal will be used to pay down debts, including £300 million borrowed from the UK Government as part of Covid-19 support loans.
Around £336 million will be added to the UK Bus and Group pension schemes and £365 million will be handed over to shareholders in a dividend later this year, the company added. ....

Glasgow City , United Kingdom , United States , Matthew Gregory , Great Western Railway , Transpennine Express , First Student , First Transit , United Kingdom Government , United Kingdom Bus , Glasgowa Listed , Coast Capital , North American , South Western Railway , Avanti West Coast , கிளாஸ்கோ நகரம் , ஒன்றுபட்டது கிஂக்டம் , ஒன்றுபட்டது மாநிலங்களில் , மேத்யூ கிரெகொரி , நன்று மேற்கு ரயில்வே , முதல் மாணவர் , முதல் போக்குவரத்து , ஒன்றுபட்டது கிஂக்டம் அரசு , ஒன்றுபட்டது கிஂக்டம் பேருந்து , கடற்கரை மூலதனம் , வடக்கு அமெரிக்கன் ,

FirstGroup sells two North American divisions for £3.3bn


Train and bus operator FirstGroup has completed the sale of two US divisions for £3.3 billion, the company has announced.
Bosses offloaded the First Student and First Transit businesses to EQT Infrastructure more than a year after first announcing plans to quit North America following pressure from activist investors.
First Student operates around 43,000 highly-distinctive school buses in the US, while First Transit runs local bus and transport services.
The cash raised from the deal will be used to pay down debts, including £300 million borrowed from the UK Government as part of Covid-19 support loans.
Around £336 million will be added to the UK Bus and Group pension schemes and £365 million will be handed over to shareholders in a dividend later this year, the company added. ....

United States , United Kingdom , Matthew Gregory , Luciana Guerra , First Group , Great Western Railway , Transpennine Express , First Student , First Transit , United Kingdom Government , United Kingdom Bus , Avanti West Coast , North American , Coast Capital , South Western Railway , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , மேத்யூ கிரெகொரி , லூசியானா கெர்ரா , முதல் குழு , நன்று மேற்கு ரயில்வே , முதல் மாணவர் , முதல் போக்குவரத்து , ஒன்றுபட்டது கிஂக்டம் அரசு , ஒன்றுபட்டது கிஂக்டம் பேருந்து , அவந்தி மேற்கு கடற்கரை ,

FirstGroup sells US bus divisions for £3.3bn


BBC News
Published
image copyrightFirstGroup
Transport giant FirstGroup has announced the sale of two US bus divisions in a deal worth £3.3bn.
The sale of its First Student and First Transit arms to EQT Infrastructure comes more than a year after it first announced plans to quit North America.
First Student operates about 43,000 yellow school buses in the US, while First Transit runs local bus and transport services.
The sale will now be formally put to a vote by shareholders.
Aberdeen-based FirstGroup has been seeking to pull out of North America and focus on its UK bus and rail operations following pressure from its largest shareholder, Coast Capital. ....

United States , United Kingdom , Matthew Gregory , A Stock Exchange , Great Western Railway , Transpennine Express , First Student , First Transit , North America , Stock Exchange , United Kingdom Bus , South Western Railway , Avanti West , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , மேத்யூ கிரெகொரி , நன்று மேற்கு ரயில்வே , முதல் மாணவர் , முதல் போக்குவரத்து , வடக்கு அமெரிக்கா , ஸ்டாக் பரிமாற்றம் , ஒன்றுபட்டது கிஂக்டம் பேருந்து , தெற்கு மேற்கு ரயில்வே , அவந்தி மேற்கு ,

UK close to Australian trade deal - live updates


UK close to Australian trade deal
Louise Moon, Simon Foy
Government borrowing hit £303.1bn in year ending March
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FTSE 100 falls flat, stays shy of 7,000
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05:03 PM
Sterling has a strong day
Sterling has had a strong day today, rebounding from a sharp fall on Thursday after strong retail sales and PMI figures were a positive sign for Britain s economic recovery.
It rose 0.07pc against the US dollar to $1.384, as the weak greenback continued a disappointing week ahead of the Fed s latest rates decision. The pound was down 0.4pc against the euro at €1.147. ....

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