|  Updated: 

FirstGroup pockets £125m as it sells Greyhound Lines to rail group FlixMobility

By:

Add as a preferred source on Google
First Group sinks to £187m loss after Greyhound charge

Transport firm FirstGroup has agreed the sale of its US long-distance coaches business Greyhound Lines to European coach and rail group FlixMobility for £125m.

The deal comes as part of FirstGroup’s move to focus on its UK transport business.

The firm said it will retain Greyhound properties, worth around £128m and lease them back to Greyhound, with plans to sell them after the next three to five years.