TravelFirstGroup sells Greyhound amenities in North America | Information

FirstGroup sells Greyhound amenities in North America | Information


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FirstGroup has bought three main bus amenities 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 embody a storage and buyer terminal facility in Los Angeles, in addition to amenities in Denver, Colorado, and Ottawa, Canada.

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

The money proceeds will probably be used for “normal company functions,” FirstGroup stated.

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

Plenty of different “property gross sales processes” are additionally beneath means.

The transfer comes as FirstGroup seeks to tug out of North America to be able to give attention to 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 making an attempt to promote its Greyhound US intercity bus service since 2019, confirmed final month that it remained in discussions with a minimum of one unnamed get together over a possible sale.

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