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Firstgroup Continues To Be In Discussions With UK's Department For Transport
FirstGroup Appoints Advisors To Explore Options For North American Contract Businesses
Robert Tchenguiz Discloses Stake Of 5.08% In FirstGroup - Filing
FirstGroup plc is a transport operator in the United Kingdom and North America. The Company operates through five segments: First Student, First Transit, Greyhound, First Bus and First Rail. The First Student is a provider of student transportation in North America and operates a fleet of over 47,000 school buses, with over six million student journeys per school day. The First Transit is a private sector provider of public transit management and contracting in North America, and operates and manages over 12,500 vehicles. Greyhound is an operator of scheduled intercity coach services in the United States and Canada, and serves over 3,800 destinations through a fleet of over 1,700 vehicles. First Bus is a bus operator in the United Kingdom. First Rail is a rail operator, which carries approximately 140 million passengers across its over two franchises. First Rail operates Great Western Railway (GWR) and TransPennine Express (TPE) franchises and open access service First Hull Trains.
395 King Street
David R. Martin
Chairman of the Board
Chief Executive Officer, Executive Director
Chief Financial Officer, Executive Director
President, First Student
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FirstGroup Plc <FGP.L> said on Monday it was exploring options, including a potential sale, for its North American contract businesses, which could result in the British bus and train operator exiting the United States.
Bus and train operator FirstGroup Plc said on Monday it was exploring options, including a potential sale, for its North American contract businesses which include the First Student school bus service and First Transit transportation service.
Two major FirstGroup <FGP.L> shareholders on Monday called for the British bus and train operator to sell its U.S. assets as part of a portfolio overhaul which already includes the planned sale of North American intercity bus service Greyhound.
The statement from Coast Capital, which owns more than 10% of FirstGroup, comes directly after fellow shareholder and property baron Robert Tchenguiz echoed the same comments about the Aberdeen-based company.
FirstGroup Plc's <FGP.L> second-biggest shareholder on Monday urged the company to sell its U.S. operations, saying there were no synergies between the British bus and train operator's assets in the UK and the United States.
FirstGroup Plc's largest individual shareholder has urged the British train and bus operator to sell its U.S. operations and make its plans clear around separating core businesses.
A joint venture led by FirstGroup <FGP.L> could get the go-ahead to operate Britain's West Coast Main Line, one of the busiest in Europe, Britain's competition watchdog ruled on Friday.
Losses at Britain's FirstGroup <FGP.L> rose after it booked a 124 million pound ($159 million) charge on the Greyhound bus business it is trying to sell, as the U.S. intercity service struggles with problems including a drop in immigration-related demand.
British transport operator FirstGroup Plc said on Thursday it was in advanced talks with bidders for the sale of its iconic Greyhound bus line, but posted a bigger loss for the first half of the year due to a charge related to the business.
Britain's competition watchdog said on Friday it was investigating the award of the West Coast Partnership rail franchise to FirstGroup <FGP.L> and Italy's TrenItalia.
Britain's FirstGroup <FGP.L> is pursuing potential options for the separation of its UK First Bus business, a company spokesman said on Sunday.
FirstGroup <FGP.L> and Italy's TrenItalia said on Thursday that the Department for Transport has signed an agreement with the companies for the British rail franchise that links London, Manchester and Glasgow.
FirstGroup <FGP.L> will take over the British rail franchise that links London, Manchester and Glasgow in December, and is being lined up to run trains on the High Speed 2 line planned for some similar routes, the government said on Wednesday.
FirstGroup said on Wednesday Britain's transport authority awarded the West Coast Rail Partnership, which operates trains from London to Glasgow, to the transport group's joint venture First Trenitalia West Coast Rail.
Britain's FirstGroup plc said on Tuesday its chairman would not stand for re-election, after shareholders rejected top investor Coast Capital's proposals to overhaul its board.
Britain's FirstGroup plc said on Tuesday its shareholders had rejected top shareholder Coast Capital's proposals to appoint a new chief executive and overhaul its board.
Britain's FirstGroup plc on Tuesday rejected top shareholder Coast Capital's proposals to appoint a new chief executive, overhaul its board and exit the rail business, saying they were not in the company's "best interests".
Britain's FirstGroup plc said on Tuesday Coast Capital's proposal to appoint seven of its board nominees was not in its "best interests", days after the company put its iconic North American bus line Greyhound for sale.
(This may 30 story corrects reference to Greyhound in second paragaph to "largest")
Dallas-based Greyhound was put up for sale by Britain's FirstGroup on Thursday as the North American bus line battles to compete with growing pressure from low cost airlines.
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