Jack
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Posts: 1,244
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Post by Jack on Oct 15, 2010 10:25:30 GMT 1
Stagecoach makes a surprise acquisition of East London Bus Group for £52 million. A fraction of the price which Stagecoach sold it for back in 2006 when it was sold to Macquarie the Australian Investment bank for £263.6 million.
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kendall17
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Justice for the 96!
Posts: 4,515
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Post by kendall17 on Oct 15, 2010 17:02:03 GMT 1
Played Stagecoach!
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Post by MetrolineGA1511 on Oct 16, 2010 11:40:42 GMT 1
Stagecoach are no longer far behind First in terms of number of buses owned in Britain. Maybe they will buy East Yorkshire, some municipals and unwanted operations from other groups and become no 1 in Britain again?
Australia was said to have escaped recession but their flirtation with ELBG has effectively cost their Macquarie Bank around £200 million + any operating losses in the meantime.
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Post by mollman on Oct 16, 2010 17:27:57 GMT 1
They can't buy EYMS unless they sell Hull operations. How long will they own ELBG before they sell it on again?
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Post by MetrolineGA1511 on Oct 16, 2010 18:31:50 GMT 1
They can't buy EYMS unless they sell Hull operations. How long will they own ELBG before they sell it on again? According to one of today's papers Abellio and RATP looked at ELBG without making an offer. Maybe once Stagecoach have turned it around they will sell East London to RATP and Selkent to Abellio? |
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Post by Burnside on Oct 16, 2010 20:35:33 GMT 1
It'll be a sad day if EYMS ever sells out.
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Jack
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Post by Jack on Oct 17, 2010 15:31:17 GMT 1
It'll be a sad day if EYMS ever sells out. Peter Shipp was featured in this month's New Transit magazine and has no intention of bowing out just yet. Plus the OfT would probably question the Finglands operations. |
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kendall17
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Justice for the 96!
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Post by kendall17 on Oct 17, 2010 16:04:57 GMT 1
And the Hull operations with Stagecoach having a huge majority there.
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Post by humberside on Oct 17, 2010 17:21:45 GMT 1
I think Stagecoach would just offer to sell Finglands from the start if they ever bid for EYMS. It's pretty obvious they can't have that. But as has been said the real sticking point would be Hull. Stagecoach would either have to give up some of their main routes, or would have to find a buyer for some of EYMS's main routes. Either way Stagecoach would have to make some huge sacrifices that may make them think again about a deal.
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