Stagecoach has agreed a deal to sell its 700-vehicle US school bus operations in Wisconsin to Student Transportation, Inc, the country’s third largest school bus operator after FirstGroup and National Express.
The $47m from the deal will initially be used to reduce debt, and free Stagecoach’s management in the US to concentrate on expanding its fast growing US Megabus operation.
The gross assets of Wisconsin School Bus as at 30 April 2011 were $21.8m. Prior to the sale...
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