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Reflections: Issue Issue 14 30 Jul 2010

Who follows Macquarie?

June saw Australian banking giant Macquarie finally admit defeat and reveal that it was putting its London bus operation up for sale. And it’s likely that the firm will take a significant hit on the £263.3m that it shelled out to acquire the East London Bus Group business from Stagecoach in the summer of 2006 - at a time when private equity was jumping on infrastructure assets and paying big bucks to get them.

It’s been a tricky few years for ELBG. Earlier this year Nigel...

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