LONDON (dpa-AFX) - Stagecoach Group plc (SGC.L) has entered into agreements to sell the marketing, retail and customer service activities of three of its inter-city coach businesses to ComfortDelGro Corporation Limited. The agreements cover: Stagecoach's 35% interest in Scottish Citylink Coaches Limited; the UK Megabus business; and Falcon South-West.
The consideration for the disposal is 8.75 million pounds, comprising 7 million pounds payable in cash at completion and the assumption by CDG of an existing shareholder loan of 1.75 million pounds extended to Stagecoach Bus Holdings Limited by Scottish Citylink. Stagecoach said the cash proceeds will be retained and applied towards its general corporate purposes.
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