Mobico Agrees Sale of West Midlands Bus Business to WMCA
Mobico Group has confirmed it has reached an agreement in principle to sell the net assets and operations of its West Midlands bus business, National Express West Midlands, to the West Midlands Combined Authority (WMCA). The deal is expected to bring Mobico upfront residual proceeds of around £24 million, once deductions for transferred liabilities are accounted for.