Stagecoach sells Wisconsin school bus business
Stagecoach, the FTSE 250 transport company, has sold its school bus business in the US state of Wisconsin for $47m.
Stagecoach, the FTSE 250 transport company, has sold its school bus business in the US state of Wisconsin for $47m.
It has been part of the Stagecoach Group since 1999 but overall school buses are not a big part of the firm's US operations where it wants to focus on its growing Megabus network.
The deal sees $46.75m settled in cash with the balance of $0.25m payable in six months' time, with the money being set against Stagecoach's debts.
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
Shares in Stagecoach are 4% down on the year and 6% down over the last five years.
BS
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Will Poland’s new president stifle its stock market’s winning streak?
Poland’s stock market has outperformed many of its European peers, but with a newly-elected populist President at odds with a Liberal government, what lies ahead?
-
Fund flows rose in April but did investors sell in May?
ISA season prompted the highest level of inflows into investment funds during April but the mood may have changed in May