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Prices & Quotes - UK Markets - FirstGroup (FGP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 74.00p
Change Today:
0.55p
Market Cap:
904.27m
Sector:
Travel & Leisure

FirstGroup sells 3 Greyhound bus terminals for $137m

By Frank Prenesti

Date: Thursday 31 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Transport operator FirstGroup has sold three Greyhound bus terminals for $137m (102m) as it rationalises its property portfolio in North America.
The company is trying to offload the iconic coach business, which operates throughout the US and Canada and was acquired by FirstGroup in 2007 for 1.9bn, to focus on bus and rail operations in the UK.

The largest is the sale of Greyhound's legacy garage and customer terminal facility in the downtown arts district of Los Angeles, California to a subsidiary of Prologis, Inc for $88m net in cash.

Greyhound will lease back the facility for two years and then move its terminal "to a more convenient and attractive location for customers and of its garage operations to a more appropriately-sized site elsewhere".

The other two property disposals are of facilities in Denver, Colorado for net proceeds of $37m and in Ottawa, Ontario for $7m. Proceeds from the transactions will be used for general corporate purposes.

FirstGroup is also trying to offload its First Student and First Transit operations across the Atlantic and earlier this month said it was "in discussions with a number of credible potential buyers who have a long-term perspective, which the company and our advisers are exploring and evaluating".

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FirstGroup Market Data

Currency UK Pounds
Price 74.00p
Change Today 0.55p
52 Week High 97.15p
52 Week Low 31.92p
Volume 5,781,407
Shares Issued 1,221.99m
Market Cap 904.27m
Beta 0.06

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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

FirstGroup Dividends

No dividends found

Trades for 11-May-2021

Time Volume / Share Price
16:35 824,027 @ 74.00p
16:31 100,000 @ 73.85p
16:29 18 @ 73.90p
16:29 662 @ 73.90p
16:29 11 @ 73.90p

FirstGroup Key Personnel

CEO Matthew Gregory
CFO Ryan Mangold