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Investors buoyed by FirstGroup US sale


First Student buses
By Scott Wright
SHARES in FirstGroup leapt by 4.5 per cent after it found a buyer for its two of its three US bus operations, bringing a drawn-out exit process to a close.
The Aberdeen-based transport giant has struck a deal to sell its First Student and First Transit businesses across the Atlantic in a deal worth around $4.6 billion (£3.3 billion).
And it pledged that the sale would allow it to return around £365 million to shareholders throughout the calendar year, while holding out the prospect of further pay-outs to investors. These will depend on resolving the future of its Greyhound business, crystallising a First Transit earn-out, and as the UK market recovers. ....

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