30th Sep 2011 07:00
Friday 30 September 2011
FIRSTGROUP PLC
Disposal of German bus business
FirstGroup today announces the disposal of its German bus operation for a gross consideration of €5.5m. FirstGroup Deutschland GmbH, which operates approximately 130 buses in the Rhineland Pfalz region of South West Germany, has been sold to Marwyn European Transport plc ("MET"), a wholly owed subsidiary of Marwyn Management Partners plc.
Commenting Tim O'Toole, Chief Executive, said: "The disposal of our small German bus business marks a further step in our programme of small asset and business disposals as part of our strategy to focus on our core operations in the UK and North America."
Contacts FirstGroup plc
Rachael Borthwick, Group Corporate Communications Director
Tel: +44 (0) 7771 945432
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