Stagecoach is keeping a 37.5% share of the coach operations it previously agreed to sell to ComfortDelGro, which in a separate deal has acquired one of Irish Citylink’s express service rivals.
To try to remove competition concerns over its then planned merger with National Express Group, Stagecoach announced earlier this year that it intended to sell its 35% stake in Scottish Citylink to majority owner ComfortDelGro along with its Megabus retail operation in England and Wales and the Falcon South West service between Plymouth and Bristol Airport.
The deal was paused after the Stagecoach board recommended acceptance of German infrastructure group DWS’s cash offer for the Perthbased group.
It is not being revived, but instead Stagecoach announced on July 29 that it is increasing its shareholding in Scottish Citylink — already responsible for Megabus services to, from and within Scotland — to 37.5%. Although it is the minority partner in the joint venture, Stagecoach has provided day-to-day management of Citylink.
In addition, Stagecoach is selling South West Falcon and the Megabus retail business in England and Wales to Scottish Citylink to which around 30