Stagecoach will sell Megabus and other coach products currently competing with National Express to ComfortDelGo.
ANDY RIGBY
The boards of Stagecoach and National Express have agreed to merge in a deal due to be completed by the end of 2022, with National Express shareholders owning approximately 75% of the combined equity and NatEx directors holding a similar proportion of seats on the new board.
Around 50 head office and senior management posts are likely to be lost across the two groups, together with some IT roles, but NatEx says it does not expect any operational jobs to be lost or depots closed.
The merger is subject to prior approval of the Competition & Markets Authority (CMA) and the two groups warn that the CMA may demand remedial action such as the disposal of parts of the business, assets or property.
