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FirstGroup increases shareholder payout to £500m from US sale

By Frank Prenesti

Date: Thursday 22 Jul 2021

(Sharecast News) - UK transport operator FirstGroup on Thursday said it was increasing shareholder returns by £135m after completing the sale of its US bus assets to private equity firm EQT Infrastructure.
The company will now hand back £500m, around 41p a share. The FTSE 250 train-and-bus operator said it has sold the operations $58m more than initially agreed following adjustments for working capital and debt

FirstGroup said it will consider additional shareholder returns in due course.

The company said in April that it was selling First Student and First Transit to EQT, more than a year after putting them up for sale.

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