First Group Disposals

[mbonwick]

RE: First Group Disposals
http://www.passengertransport.co.uk/2012...perations/

In particular "A FirstGroup spokesperson commented: “The vast majority of our UK Bus division generates good returns with opportunities to improve further. As previously announced, however, there is scope to reposition our portfolio to concentrate on those markets that offer the greatest long term potential.

“We are developing opportunities for a number of disposals within our UK Bus division and the unsubstantiated information given to Passenger Transport does not comprise the entire sum of those disposals. We have always been very clear that from the outset that our strategy is to bring those businesses to the market in select tranches to ensure stability for our employees and operations. Given the breach of confidentiality that has taken place it demonstrates that this is the correct approach.

“At this point, we are not disclosing any more details about our plans for commercial reasons and to ensure that we are able to fully consult with any employees and other stakeholders that may be affected.”"

There is no way that the 7 ops listed will generate the £83m ish required to meet the £100m target for sales, so there's more to come.

Agreed that the only value on Northampton is the depot - which is actually what Stagecoach really need if the redevelopment of Greyfriars Bus Station is to happen.