India, Nov. 2 -- FirstGroup plc (FGP.L), a UK-based public transport operator, said Monday that it has agreed to sell bus assets to the West Yorkshire Combined Authority for £109 million as part of the transition to a franchised bus network. The company has also secured two bus franchise contracts in the region.
The asset sale covers five freehold depots and 330 buses, including 251 diesel and 79 electric vehicles. The depot sales have been completed, while the fleet transfers will take place in phases as the franchise contracts commence between May 2027 and October 2028.
FirstGroup expects a post-tax gain of around £30 million from the completed depot sales, which will be treated as an adjusting item in fiscal 2027. The company...