FIRSTGROUP PLC: Disposal

24 June 2013 


                         FIRSTGROUP PLC ("The Group")                          
                              Disposal in UK Bus                               
                  Completion of disposal of London bus depots                   


Further to the Group's announcement of 9 April 2013, the necessary regulatory
approvals have now been received in respect of the sale of our London bus
operations. As a result we are pleased to confirm the completion of the sale of
five of our London bus depots to Metroline and three to Transit Systems Group
for a combined consideration of approximately £80m.

Commenting, Giles Fearnley, FirstGroup's Managing Director UK Bus, said:

"The sale of these operations reflects further progress in our programme to
reposition our UK Bus portfolio, recover performance and equip the business to
achieve sustainable revenue and patronage growth. Our strategy is to focus on
those areas of the country which offer the greatest potential and, while we
have been a key operator in London for many years, our focus going forward is
on the deregulated market outside of the capital. We continue to work closely
with Transport for London to ensure that the transfer to new operators goes as
smoothly as possible."

Further information, FirstGroup:

Rachael Borthwick, Group Corporate Communications Director

Tel: +44 7771 945432 / 020 7291 0512

Stuart Butchers, Group Corporate Communications Manager

Tel: +44 7713 317979 / 020 7291 0507



END

-0- Jun/24/2013 08:02 GMT


 
Press spacebar to pause and continue. Press esc to stop.