FirstGroup has started an asset sale to help reduce its £2.2bn debt burden.
Presenting the group’s results for 2009/10, chief executive Sir Moir Lockhead said he would listen to offers for non-core businesses in order to strengthen First’s financial position, despite debt falling by £220m last year due to £136m surplus cash being generated and favourable exchange rates.
Companies expected to come up for sale include open access intercity rail operator Hull Trains,...
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