Stagecoach sell North American arm

[VWH1414]

Stagecoach have sold their North American bus/coach operations arm for £215M, apparently to "pay off debts" and so they can focus on UK operations:
www.route-one.net/articles/Business_deals/Stagecoach_to_sell_North_American_division_for__214_8m

[ibus246]

Dec 21, 2018 22:21:13 GMT VWH1414 said:

Stagecoach have sold their North American bus/coach operations arm for £215M, apparently to "pay off debts" and so they can focus on UK operations:
www.route-one.net/articles/Business_deals/Stagecoach_to_sell_North_American_division_for__214_8m

Quite surprised at that. When I used a Megabus coach from Boston to NYC it was rather enjoyable and to Stagecoach standards - additionally busy too, but I assume this was in the pipeline for sometime. One has to wonder how much debt they are in.

[snoggle]

Dec 21, 2018 23:26:46 GMT ibus246 said:

Dec 21, 2018 22:21:13 GMT VWH1414 said:

Stagecoach have sold their North American bus/coach operations arm for £215M, apparently to "pay off debts" and so they can focus on UK operations:
www.route-one.net/articles/Business_deals/Stagecoach_to_sell_North_American_division_for__214_8m

Quite surprised at that. When I used a Megabus coach from Boston to NYC it was rather enjoyable and to Stagecoach standards - additionally busy too, but I assume this was in the pipeline for sometime. One has to wonder how much debt they are in.

I'm not. Inter city coach travel in the USA has been badly hit by falling fuel prices because of widespread fracking in the USA. More people are driving than using coaches. First Group have problems with their Greyhound / Bolt Bus operations as well. No shock that Megabus / Coach USA has been dumped. The collapse of the VTEC franchise will have hit Stagecoach's UK bottom line and share price. If you look at a 5 year trend for Stagecoach's share price it does not make good reading - shares are worth about 1/3 of what they were 5 years ago. How times change.