Stagecoach has reached agreement to sell the retailing activities of its Megabus and Falcon scheduled coach businesses to Scottish Citylink, the well-established joint venture (JV) between the group and ComfortDelGro.
The transaction is expected to complete in mid-August.
It will also see Stagecoach’s share in Scottish Citylink increase from 35% to 37.5%.
Announcement of the sale agreement represents a change from an earlier position that, under initial plans for Stagecoach
to be purchased by National Express, would have seen Scottish Citylink take on the marketing, retail and customer service activities of Megabus and Falcon but also become wholly owned by ComfortDelGro in a deal slated at the time to be worth £8.75m.