Check out our new Timeline feature to give you the latest updates on all the stocks you follow. Clickhere to set up your Timeline.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Don't want ads? Click here
Sponsored Content
Don't want ads? Click here

Pin to quick picksNEX.L Share News (NEX)

  • There is currently no data for NEX

Watchlists are a member only feature

Login to your account

Timelines are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Stagecoach sells intercity services as merger deadline looms

Tue, 14th Dec 2021 09:43

(Sharecast News) - Stagecoach has agreed to sell Megabus and two other intercity coach services for £8.75m to head off potential competition barriers to its proposed merger with National Express.


The bus operator said it would sell Megabus, Stagecoach's 35% stake in Scottish Citylink Coaches and Falcon South West to Singapore's ComfortDelGro (CDG). CDG already owns 65% of Scottish Citylink.

The deal, comprising £7m cash and a £1.75m loan to Stagecoach Bus Holdings from Scottish Citylink, is expected to complete at the end of February.

Stagecoach has been in talks with National Express since September about an all-share offer from National Express valuing Stagecoach at about £445m. The extended deadline for an agreement is 17:00 on Tuesday 14 December.

The sale of the intercity assets "proactively addresses potential regulatory considerations" related to the deal, Stagecoach said. Stagecoach shares rose 6.9% to 80.15p at 10:19 GMT, valuing the company at almost £442m.

Martin Griffiths, Stagecoach's chief executive, said: "Stagecoach developed the Megabus brand in 2003, as we saw real potential in the long-distance intercity coach market in the UK.

"In 2005, our belief in this market saw us create a joint venture with CDG to run the Scottish Citylink business and we further expanded our intercity coach business with the development of our bespoke Falcon service in the South West of England serving Bristol Airport. Those businesses will continue to thrive under the ownership of the world renowned CDG brand".
More News
5 Dec 2022 07:43

LONDON BRIEFING: Vodafone CEO steps down, CFO takes helm in interim

(Alliance News) - Stocks in London were called flat on Monday, ahead of a busy day for PMI prints.

Read more
5 Dec 2022 07:09

National Express appoints James Stamp as permanent CFO

(Sharecast News) - National Express said on Monday that interim chief financial officer James Stamp will take on the role on a permanent basis with immediate effect.

Read more
21 Nov 2022 13:29

Headlam poaches National Express executive Adam Phillips as new CFO

(Alliance News) - Headlam Group PLC on Monday named Adam Phillips as its new chief financial officer, joining by April 2023 "at the latest".

Read more
4 Nov 2022 10:15

LONDON BROKER RATINGS: Liberum cuts British Land; Exane cuts Sainsbury

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday afternoon:

Read more
2 Nov 2022 10:07

LONDON BROKER RATINGS: Liberum cuts boohoo; JPMorgan cuts Ocado

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

Read more
20 Oct 2022 10:49

National Express confident of strategy following strong revenue growth

(Alliance News) - National Express Group PLC on Thursday said it was sustaining momentum after another period of operational progress and revenue growth.

Read more
20 Oct 2022 07:46

National Express Q3 revenues rise as passenger journeys recover

(Sharecast News) - Transport operator National Express reported a jump in third-quarter revenues on Thursday as passenger journeys continue to recover, and said FY22 results were set to be broadly in line with expectations.

Read more
13 Oct 2022 15:37

UK earnings, trading statements calendar - next 7 days

Read more
8 Sep 2022 12:25

IN BRIEF: Diploma confirms November as start date for new CFO Davies

Diploma PLC - London-based specialised technical products and services - Says new Chief Financial Officer Chris Davies will start his role on November 1. He was announced as new CFO in August. He is currently the CFO of National Express Group PLC, which today announced its Germany & UK division CFO James Stamp will be interim CFO from November 1 as the coach operator is searching for a permanent CFO.

Read more
8 Sep 2022 09:00

National Express appoints Greencore director Helen Weir as chair

(Alliance News) - National Express Group PLC on Thursday said it has appointed Greencore Group PLC non-executive director Helen Weir as chair from January 1.

Read more
8 Sep 2022 08:05

Former M&S finance boss to chair National Express

(Sharecast News) - National Express Group has named Helen Weir as its new chair, the transport group confirmed on Thursday.

Read more
4 Sep 2022 17:14

Sunday share tips: Volex, National Express

(Sharecast News) - The Financial Mail on Sunday's Midas recommended to readers that they 'buy' shares in Volex, the power cable manufacturer led by Nat Rothschild.

Read more
10 Aug 2022 10:29

Diploma picks Chris Davies from National Express to be new CFO

(Alliance News) - Diploma PLC on Wednesday said it has picked Chris Davies to be its new chief financial officer, with the start date to be confirmed in due course.

Read more
10 Aug 2022 07:52

National Express CFO stands down to take up job Diploma

(Sharecast News) - Public transport operator National Express revealed on Wednesday that chief financial officer Chris Davies will stand down from the role to take up a job at industrial supplies company Diploma.

Read more
2 Aug 2022 09:44

LONDON BROKER RATINGS: RBC resumes National Express at 'outperform'

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

Read more

Free Investment Tools

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.