Last Big London Bus Firm For Sale

Londons last big independent bus company, London United, has been put up for sale by its investors and may spark interest from continental Europe, newspapers reported on Thursday. The Financial Times said that a number of bus companies had been asked to bid for London United, which runs routes in south-west and central London and is believed to have turnover of about 50 million. But newspapers said interest from bus companies such as FirstBus had been whittled down and a continental group may be the front runner. The Telegraph newspaper tipped Frances Cie Gnrale saying a preferred bidder had been chosen by London Uniteds venture capital backers, HSBC Private Equity and 3i Group Plc.

 

Generale des Eaux won two train operating franchises in last years British rail privatisation.

London United employs 1,700 staff and operates about 500 bus routes on 40 routes, holding around nine percent of the London market, the FT said. London Newsroom +44 171 542 7717