Greyhound buses up for sale. The group blames competition from low cost airlines for poor performance of the intercity coach service, which it bought in 2007. FirstGroup signalled it is considering breaking itself up by seeking a buyer for its Greyhound buses in the US. Greyhound has been put up for sale after its UK owner caved to activist investors who wanted the company to ditch the bus line. 05/13/2021 | 02:23pm EDT *: *: * May 13 (Reuters) - Greyhound Canada permanently closed its services in Canada, the inter-city bus operator said on Thursday, after struggling with sales during the pandemic as more people choose personal transport over public conveyance. FirstGroup put Greyhound up for sale this year, partly due to competition from low-cost airlines and more recently after a drop in demand. By … Greyhound Property Disposal Cash Inflows: Although the sale of the US Greyhound coach business is still on-going, FG completed the disposal of three assets of its property portfolio for cash proceeds of GBP102 million in December 2020. Share page. We expect the sale of Greyhound to be neutral for the rating as it contributed around 3% of the group's operating profit in FY19, and we expect its … Greyhound remains non-core and FirstGroup continues to pursue all exit options for the business in order to conclude the Group’s portfolio rationalisation strategy. The company sold three Greyhound bus facilities for a combined $137 million in December 2020. Since the sale of the Manchester operations FirstGroup has announced plans to sell off its remaining bus operations in the UK and Greyhound buses in America The news of the sale comes after the company said it lost £327m in the year to 31 March 2018, compared with a profit of £152.6m in 2017, leading last year, to the departure of chief executive Tim O'Toole. FirstGroup has sold three major bus facilities in North America for a total of £102 million. UK transport company FirstGroup has agreed to sell its Greyhound coach business as part of an overhaul that activist investors have been pushing for.. Greyhound has been a household name in North America since it was founded in 1914, with prominent roles for its buses and their running dog logo in movies, music and motorcycle stunts. Dallas-based Greyhound was put up for sale by Britain's FirstGroup on Thursday as the North American bus line battles to compete with growing pressure from low cost airlines. FirstGroup ends long journey to sale of US bus operations with £3.3bn EQT deal. GBX. FirstGroup : Greyhound Canada ends operations on pandemic hit. People aren't going Greyhound like they used to, and the company's owners are feeling the pressure. Sale discussions are ongoing but the process has been affected by the pandemic’s impact on this passenger volume-based business. FirstGroup plc (LSE: FGP.L) is a leading provider of transport services in the and . GBP. Search by instrument name, code or ISIN. FirstGroup announces plans to sell Greyhound. Select instrument to view. FirstGroup invested in Greyhound to implement airline-style yield management and real-time pricing, up-to-date booking and ticketing options, and improved customer communications channels over the past several years, and recently reduced Greyhound’s footprint in Western Canada. FirstGroup plc is a British multi-national transport group, based in Aberdeen, Scotland. Once completed, the sale will leave FirstGroup with UK bus and rail operations as well as its struggling US coach business, Greyhound. Copy link. FirstGroup confirms sale of UK bus division to focus on US business. History Origins. image copyright FirstGroup. ($1 = 0.7723 pounds) (Reporting by … Equity (1) Code Instrument name Price Change Type Documentation ; FGP: ORD 5P: 74.00. FirstGroup plc (‘FirstGroup’ or the ‘Group’) today announces three major property disposals, for total gross proceeds of USD137m or c. GBP102m, as part of its programme to rationalise Greyhound’s property portfolio.. FIRSTGROUP PLC instruments. Unfortunately for FirstGroup (FGP) and its low-cost bus subsidiary Greyhound, a linchpin of its North American intercity network, faltering immigrant flows from southern US border states are having a negative impact on trading. Dallas-based Greyhound Lines was put up for sale by Britain's FirstGroup on Thursday as the North American bus company battles to compete with growing pressure from low-cost airlines. Transport giant FirstGroup on Thursday announced plans to sell its Greyhound bus business and review “structural alternatives” to spin off its UK bus arm, after pressure from activist investors. The company operates transport services in the United Kingdom, Ireland, Canada and the United States. The transport firm had to write down the value of its US coach business Greyhound. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. Greyhound owner FirstGroup recorded a $376 million loss in the year to March 31 and said coronavirus would delay the sale of its North American businesses 0.75%: Equity-Bonds (2) Code Instrument name Price Maturity Type Documentation ; 17IX: 5.250% BDS 29/11/22 (BR) GBP-GBP. In recent months, profits have been below budget. 29.11.22: Bonds-43PT: 6.875% BDS 18/09/24 £ (BR) 118.30. FirstGroup sells Greyhound bus facilities for £100m . FirstGroup said the Greyhound sale was proving difficult. Greyhound Lines' UK owners are putting it up for sale, report says. The transaction marks a breakup of FirstGroup, whose international strategy prompted a … Wright Eclipse Gemini bodied Volvo B9TL in September 2012. The London-listed transport group will announce the sale of two … About sharing. Iconic long-distance brand Greyhound isn’t included but remains for sale, FirstGroup said Friday. FIRSTGROUP is on the road to a break-up after signalling the sale of its Greyhound coach arm in North America and spinning off its UK bus business. close. FirstGroup sells 3 Greyhound bus terminals for $137m . 18.09.24: Bonds-As … Transport operator FirstGroup has sold three Greyhound … FirstGroup, which has owned Greyhound since 2007, follows pressure from US hedge fund Coast Capital for the company to split its UK and US assets. Share. This article is more than 1 year old . Firstgroup reported wider losses in the first half of the year as a writedown related to its US coach business Greyhound offset a rise in revenue. FirstGroup. FIRSTGROUP PLC GREYHOUND PROPERTY SALES. 89.90p 16:20 29/03/21-2.55%-2.35p. Greyhound, purchased by FirstGroup in 2007, closed its remaining western Canada routes in 2018. Published 31 December 2020. Firstgroup signalled it is considering breaking itself up by seeking a buyer for its Greyhound buses in the United,! ’ t included but remains for sale this year, partly due to competition from low-cost and! 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