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Greyhound Bus Operator Attracts Private Equity Interest

relates to Greyhound Bus Operator Attracts Private Equity Interest

Photographer: Tim Boyle/Bloomberg

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FirstGroup Plc, the operator of Greyhound buses and British trains, is attracting interest from buyout firms including CVC Capital Partners as it conducts a review of the business, people familiar with the matter said.

The buyout firm has not made a formal bid and deliberations are in early stages, the people said, asking not to be identified as the details aren’t public. FirstGroup, which has a market value of 1.2 billion pounds ($1.5 billion), this year rejected proposals from Apollo Global Management LLC, saying in May that they “fundamentally undervalued” the business. Potential bidders may make offers for part or all of the business, the people said.