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Stagecoach founders pocket millions from share sale as part of 10-year plan to wind down their stake
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Scottish transport tycoons Sir Brian Souter and Dame Ann Gloag have sold shares in Stagecoach Group worth nearly £11 million.
The siblings – or rather their “connected parties” – disposed of more than 11.5 million units of stock, representing a 2.1% stake in the business they founded more than 40 years ago, Perth-based Stagecoach said today (April 28).
The stock sale is part of plans to reduce their shareholding to about 5% within 10 years.