31 Oct '12, 11am

Bus and Coach News: First sells Wigan to Stagecoach for £12m: FirstGroup has sold its Wigan ... #bus #coach #diesel

Bus and Coach News: First sells Wigan to Stagecoach for £12m: FirstGroup has sold its Wigan ... #bus #coach #diesel

FirstGroup has sold its Wigan bus operations to Stagecoach for £12million. The sale is part of what First describes as the “repositioning” of its UK bus business and it follows a similar deal in North Devon in the spring, which Stagecoach backed out of when the Office of Fair Trading took an interest in the deal. Tim O'Toole, FirstGroup chief executive, says: "The sale of our Wigan bus business marks continued progress in our programme of selected asset and business disposals as we review the scope and scale of our UK Bus portfolio and reposition it for the longer term. With a clear focus we are working through a detailed plan to recover performance in our UK Bus division and equip the business to achieve sustainable growth and improved returns." The Wigan business operates 120 buses, employees 300 people and in the year to 31 March made an operating profit of £1.5million ...

Full article: http://www.busandcoach.com/newspage.aspx?id=7256&category...

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