Firstgroup has sold its Northumberland Park bus depot in North-East London to Go-Ahead Group plc for a gross consideration of 14m pounds.
The depot operates 130 vehicles on 13 routes which, together with around 400 employees, will transfer to Go-Ahead on March 30th.
Tim O'Toole, Chief Executive of Firstgroup said: "The sale of our Northumberland Park depot marks further progress in our ongoing programme to pursue selective asset and business disposals as we review the scope and scale of our business and position our UK Bus division for the longer term."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
NR
-
Trouble brews in B&M as bargain shops take a hitOpinion Once a stock market darling, B&M's share price has slumped. What has gone wrong for bargain shops?
-
US and China reach a ceasefire in their trade war after talks in LondonThe US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?
