US buy speeds up Stagecoach

Click to follow
The Independent Online

The bus and rail firm Stagecoach spent £85m on buying nine businesses from its struggling US rival Coach America yesterday in an opportunistic move to bolster its fast-growing North American business.

The move gives it extra depots to expand its brand, as well as a platform in Texas and California. Coach America, which is one of the biggest players in the US, has been operating under Chapter 11 bankruptcy protection since January.