First and NatEx complete major international deals

摘要

FirstGroup and National Express both completed the latest stages of their global expansion plans within days of each other, First tying up its purchase of North American schoolbus and Greyhound coach operator Laidlaw on 1 October, NatEx its acquisition of Spanish group Continental Auto on 4 October. First is now the biggest North American bus operator, NatEx the biggest in Spain. rnFirst has agreed to sell off 800 yellow schoolbuses out of a combined fleet of 62,000 in the Laidlaw and First Student fleets in rnorder to satisfy United States antitrust (competition) concerns. It says the merger has also led to the loss nearly 1,100 buses' worth of yellow schoolbus contracts by the two businesses as contracts were relet. All told, it says the divestment and these contract losses amount to only 3% of the two fleets, which are to be amalgamated under the First Student name, and both reductions were anticipated. It is also combining Laidlaw's transit bus division into First Transit.