Go-Ahead Group PLC (LON:GOG) is driving into Manchester for the first time, with the transport operator buying a bus depot in Britain's second-largest urban area from FirstGroup PLC (LON:FGP) for £11.17mln in cash.
The FTSE 250-listed group said the purchase of The Queens' Road depot in Manchester, which also includes 163 buses, is due to complete in the next few months.
Go-Ahead, which is the largest bus operator in London and runs seven other regional bus companies in Britain, plus overseas bus services in Ireland and Singapore, said the Queen's Road depot will operate as Go North West.
David Brown, Go-Ahead's chief executive said: “As a business that prides itself on looking after our colleagues, we hope to reinvigorate the Queen’s Road depot. We also look forward to engaging in open conversations with TfGM, stakeholders and customers in the Manchester area to better understand how we can create a sustainable and thriving service.”
In mid-morning trading, Go-Ahead were down 0.1% at 1,849p.