FirstGroup starts formal sales process for US business but pauses UK bus sale
Train and bus operator FirstGroup has announced the appointment of advisers to formally look into selling off its U.S. assets following pressure from shareholders. The under-fire business has been battered by investors over the past year, with calls to overhaul the entire boardroom and also to provide more clarity on its strategy. Previously, the company spoke highly of its U.S. business, including First Student and First Transit, as "valuable assets and well positioned in markets with profitable growth," although it said it would give any offers or approaches "serious consideration."
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