NEWS
New owner Vantage is expected to continue to use the Megabus.com brand, as on this Van Hool Astromega in New York.
Stagecoach has entered into an agreement to sell its North American division to a private equity company for an estimated US$271million (£212million).
It expects to complete the disposal of the business, which trades as Coach USA and Coach Canada, to Los Angeles-based Variant Equity Advisors by the end of its current financial year on 27 April, ending almost 20 continuous years of operating coaches and buses on the opposite side of the Atlantic and over 30 years of overseas activity for the Perth-based group.
The announcement, on 19 December, came just weeks after it accompanied publication of disappointing half-year results with a statement that selling the division was one of the options under consideration (Buses last month).
