Home Business News FirstGroup plans to sell Greyhound

FirstGroup plans to sell Greyhound

by LLB Reporter
30th May 19 10:48 am

Transport giant FirstGroup are to sell off their Greyhound business and review “structural alternatives” and separate their UK bus arm as they are to focus on the North American market.

The group who also own Great West Railways and South Western Railway (SWR) will continue to manage their rail franchise.

They warned they have concerns over “risk and rewards” and added they are waiting for the governments review into the railway sector.

They said, “any future commitments to UK rail will need to have an appropriate balance of potential risks and rewards for our shareholders.”

Matthew Gregory, the newly appointed chief executive of FirstGroup said, “We see significant potential to generate long-term, sustainable value and growth from the solid platforms these businesses provide in the North American mobility services sector.

“We are intent on executing this strategy at pace, having full regard to the regulatory and stakeholder procedures and approvals that will be required.”

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