Monday, 14 January 2013

Acquisitions

The following has been posted on the Stagecoach website this morning
Stagecoach Group plc ("Stagecoach") is pleased to announce that, further to its announcement on 12 November 2012, Glenvale Transport Ltd, a wholly owned indirect subsidiary of Stagecoach, has completed the acquisition of certain businesses and assets of subsidiaries of FirstGroup plc in Merseyside, Cheshire and North Wales.

With regards to last month's purchase by Stagecoach Manchester of First Manchester’s
Wigan operation “The Office of Fair Trading (OFT) has revealed that it is reviewing
the acquisition.

It says it is considering whether this agreement has resulted in the
creation of a relevant merger situation under the merger provisions of
the Enterprise Act 2002, and if so, whether the creation of that
situation has resulted, or may be expected to result, in a substantial
lessening of competition within any market or markets in the United Kingdom for goods or services.”

It will announce its decision on 25 February. At the same time, it is
still considering whether it will approve the completed sale of Liyell
Limited (trading as Midland) to Arriva Midlands North – a decision to
be announced on 21 January.

On 6 February it will announce whether it
will approve the purchase by Stagecoach of Manchester-based Bluebird
Bus & Coach. In this case the deal is conditional on gaining OFT
approval”.

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