Stagecoach Group plc (SGC.L) said, on August 1, it completed the sale of its subsidiary, Stagecoach Metrolink Limited, or SML, to Ratp Dev UK Limited, a wholly owned subsidiary of Ratp Développement.
SML operates and maintains the Manchester Metrolink tram network under a ten-year contract with Transport for Greater Manchester (formerly, Greater Manchester Passenger Transport Executive) through to July 2017.
The company noted that the sale relates only to SML. The sale does not include the group's Sheffield tram operations, and the group is not engaged in any discussions regarding a sale of the Sheffield tram operations.
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