First Group to be split and sold off.

Vehicle and Fleet discussions for First Midland Red Buses Limited or its predecessor, Midland Red West Limited.
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TimBrown
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Location: Worcester

First Group to be split and sold off.

Post by TimBrown » 08:18 Thursday 30th May 2019

Attached link to BBC report this morning concerning sale of US Greyhound operation and possible sale of Firstbus in the UK;

https://www.bbc.co.uk/news/business-48456840

An opportunity for Stagecoach now they have been prevented from tendering for railway operating franchises?

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AdamH
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Re: First Group to be split and sold off.

Post by AdamH » 10:22 Thursday 30th May 2019

Just had a quick look at the official FirstGroup statement and it says the UK bus division will separate from the group, so it’s all going to be sold. The sale of Greyhound has already started.

Link... https://www.firstgroupplc.com/~/media/F ... update.pdf

MattW
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Location: Welland

Re: First Group to be split and sold off.

Post by MattW » 16:03 Thursday 30th May 2019

Lets hope a company actually interested in running buses buys it this time!

Matt
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Re: First Group to be split and sold off.

Post by Matt » 22:19 Thursday 30th May 2019

Do I remember seeing suggestions from other forum members that National Express may be interested or just that they may be a good alternative?

willr7
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Re: First Group to be split and sold off.

Post by willr7 » 23:00 Thursday 30th May 2019

Matt wrote:
22:19 Thursday 30th May 2019
Do I remember seeing suggestions from other forum members that National Express may be interested or just that they may be a good alternative?
Yes, I believe I read that somewhere on a link that was shared.

TimBrown
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Joined: 05:59 Monday 4th July 2016
Location: Worcester

Re: First Group to be split and sold off.

Post by TimBrown » 10:55 Friday 31st May 2019

A bit more information to muddy the water from a link to Daily Mail City & Finance article;

https://www.thisismoney.co.uk/money/mar ... iness.html

DD12
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Re: First Group to be split and sold off.

Post by DD12 » 13:08 Saturday 1st June 2019

Another possibility not mentioned on here yet (I believe) is :-

The official announcement by the current board of directors, includes the possibility of "de-merging / spinning-off" (etc) First Bus UK (with it's own shares).

That might still allow SOME of First UK's companies to be sold-off ASAP, but surely First Group would require the buyer to take-on a weak operating company along with the strong one that the buyer wants -- --
so "someone" wanting Leicester for example, would have to buy Potteries also, (and possibly Worcester ??) otherwise First Bus UK could be left too weak to stand on it's own.

{ "Someone wanting Bristol might have to buy Buses of Somerset, and possibly Worcester !! :D }

First Group wont want to be left with any weak bus operating companies, but that doesn't stop a NEW owner from selling them off ASAP.

In all of this, there are the two major complications of the competition laws, and filling the pension fund gap.

There probably are experts who disagree with the above appraisal, -- -- and it does appear that almost anything could happen over the next year or two !!

:?:

willr7
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Re: First Group to be split and sold off.

Post by willr7 » 22:52 Saturday 1st June 2019

Here is a link from the WN backing up what we have been saying about older vehicles coming in.

https://www.worcesternews.co.uk/news/17 ... -for-sale/

DD12
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Re: First Group to be split and sold off.

Post by DD12 » 11:43 Tuesday 11th June 2019

There is still the possibility that First Bus UK will be hived-off complete (or almost complete) as a stand-alone company (PLC) with it's own shares, but, I have been wondering about "who" would otherwise be the best new owner for FMR/WR --

IN PARTICULAR, which company / group would be best for coping with Worcester's worsening congestion, and with getting our inept politicians and "planners" to ACTUALLY take measures to stop the downward spiral (IE - not just "talk").

I don't think Rotala/Diamond could do it.

National Express Group could possibly do it, as worsening localised congestion in the West Midlands will need to be tackled, BUT they have the advantages of a better local political structure, a big, strong existing network, and financial strength -- --

So, I think Stagecoach will have to try the hardest to get political changes to tackle congestion etc, in their existing areas, and maybe Worcester too ?

(I don't like the Stagecoach livery, nor the interior floors of their buses - which look like they are covered in vomit - and indeed make me nauseous, -- -- any chance of a photo, Adam ?? :D )

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AdamH
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Re: First Group to be split and sold off.

Post by AdamH » 12:46 Tuesday 11th June 2019

DD12 wrote:
11:43 Tuesday 11th June 2019
(I don't like the Stagecoach livery, nor the interior floors of their buses - which look like they are covered in vomit - and indeed make me nauseous, -- -- any chance of a photo, Adam ?? :D )
Not sure which bit you hate the most, so here’s a shot looking down at the rear seat and floor for you. This is on a short-E200 acquires with Wessex last year. All have had a full refurbish inside and out before entering service.
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63D2E762-8D57-46C9-A0F1-CB0AE019B94F.jpeg

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