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RE: First Group Speculation - First Class - 12/11/2012 08:02
Sale of Birkenhead and Chester bus businesses
As part of the Group's stated strategy to reposition its UK Bus division to
focus on those areas that offer the greatest potential for growth, we are
pleased to announce the sale of our Birkenhead and Chester bus businesses to
Stagecoach Group plc for a consideration of GBP4.5m. On completion of the sale
our Birkenhead and Chester bus depots as well as a leased outstation in Wrexham
and around 110 vehicles and approximately 290 employees will transfer to
Stagecoach.
Commenting Giles Fearnley, First's Managing Director, UK Bus said:
"Birkenhead and Chester are businesses where we have previously seen lower than
average margins and they are not core to our operations. They fit better with
Stagecoach's existing portfolio in the area and also allow us to realise
efficiencies in support costs. The sale of these operations marks further
progress in disposing of selected assets and businesses as we review the scope
and scale of our portfolio and reposition it for the longer term. We are
progressing our detailed programme to recover performance and equip our UK Bus
business to achieve sustainable revenue and patronage growth."
RE: First Group Speculation - MPTE1955 - 12/11/2012 08:16
At last an end to the rumours.
RE: First Group Speculation - First Class - 12/11/2012 08:19
This thread can probably now be renamed!
RE: First Group Speculation - Gateacre - 12/11/2012 08:45
Stock Market statement:
http://www.stockmarketwire.com/article/4....businesses.html
RE: First Group Speculation - P450 SWX - 12/11/2012 09:44
In the Bus scene North West area I have just made a new thread called
Stagecoach Merseyside - Birkenhead and Chester
RE: First Group Speculation - J654UHN - 12/11/2012 11:59
Why not just cll it Stagecoach Merseyside and South Lancashire as thats what the business is called
Stagecoach Merseyside - Birkenhead, Chester & Wrexham - First Class - 12/11/2012 18:56
Anyone else think that Stagecoach may now be eyeing up the likes of GHA Coaches, to expand into North Wales & Halton, once they've settled down?
RE: Stagecoach Merseyside - Birkenhead, Chester & Wrexham - wirralbus - 12/11/2012 20:02
(12/11/2012 18:56)First Class Wrote: Anyone else think that Stagecoach may now be eyeing up the likes of GHA Coaches, to expand into North Wales & Halton, once they've settled down?
They will have to watch the beady eye of the Competition Commission now if they want anything else in North West England and North East Wales.
RE: Stagecoach Merseyside - Birkenhead, Chester & Wrexham - Garsty - 12/11/2012 20:11
I cannot see them even thinking about GHA, it is way to spread out around a very large area and does not have any real 'focus' areas, its presence in Wrexham isn’t all that big and they rely heavily on subsidised routes.
I can perhaps see Stagecoach having a go at a few commercial routes in Wrexham, there’s no reason for them not too really, as they will have an outstation (albeit only small), a welsh license to operate and some opportunities, Arriva might come under attack from everywhere at this rate!
RE: Stagecoach Merseyside - Birkenhead, Chester & Wrexham - CX54 DKD - 12/11/2012 20:15
If Stagecoach did, THEORETICALLY, try to operate against Arriva in Wrexham, it wouldn't be particularly difficult for them in my opinion given the age of most of the fleet down there.