Stagecoach Group Plc (SGC.L) announced that Greater Manchester Buses South Ltd, a wholly owned indirect subsidiary of Stagecoach, has agreed to acquire the bus business and assets of private operator Bluebird for a consideration of 2 million pounds.
The purchase includes the leased depot site at Greengate in Middleton, as well as approximately 40 vehicles.
Stagecoach noted that the acquisition will allow it to expand its successful bus operations in the Greater Manchester region, where it already operates around 630 buses and employs 1,850 staff. The Bluebird operations will become part of Stagecoach Manchester, which carries nearly 100 million passengers a year and is led by Managing Director Chris Bowles.
The agreement commits Stagecoach to acquire the business only if clearance is given by the Office of Fair Trading. If approved, Stagecoach expects the acquisition to be completed in the first quarter of 2013.
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