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Disposal

2 Aug 2011 07:00

RNS Number : 5064L
Stagecoach Group PLC
02 August 2011
 



Stagecoach Group plc

Disposal

2 August 2011

 

 

Manchester tram operations

 

Stagecoach Group plc ("Stagecoach") yesterday completed the sale of its subsidiary, Stagecoach Metrolink Limited ("SML"), to Ratp Dev UK Limited, a wholly owned subsidiary of Ratp Développement.

 

SML operates and maintains the Manchester Metrolink tram network under a ten-year contract with Transport for Greater Manchester (formerly, Greater Manchester Passenger Transport Executive) through to July 2017. The gross assets of SML as at 30 April 2011 were £16.2m.

 

The sale relates only to SML. The sale does not include the Group's Sheffield tram operations, and the Group is not engaged in any discussions regarding a sale of the Sheffield tram operations.

 

 

 

For further information, please contact:

 

Stagecoach Group plc www.stagecoachgroup.com

 

Martin Griffiths, Finance Director 01738 442111

Ross Paterson, Director of Finance & Company Secretary 01738 442111

John Kiely / Will Swan, Smithfield 020 7360 4900

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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67891011121314

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