Stagecoach acquires Western
Saturday 27 November 1993
Western, which operates bus services in Gloucestershire, Wiltshire, Warwickshire, Oxfordshire and South Wales, was a buyout from the National Bus Company in 1986.
The deal follows the recent purchases by Stagecoach of East Kent Buses and Grimsby Cleethorpes Transport. The three deals bring Stagecoach a combined turnover of pounds 55m.
Brian Souter, chairman, said: 'We are particularly pleased about getting a presence in an area where we have not been previously.'
The group was looking at other opportunities. 'But the important thing is that we have to be comfortable not only about what we are buying but also the price,' he added.
Western, which has about 1,700 employees, made pre-tax profits of pounds 1.9m last year on turnover of pounds 33.9m. Stagecoach is paying with cash, loan notes and new shares.
Stagecoach was floated in April. Its shares were firm at 141p yesterday.
- 1 'Not suppost to cry': 9-year-old lists the worst things about being a boy
- 2 To help fuel their propaganda machine against the poor, our government has now decided to redefine the word 'welfare'
- 3 Woman opens professional cuddling shop – gets 10,000 customers in first week
- 4 Lana Del Rey rape video: Marilyn Manson denies involvement in shocking leaked footage
- 5 Kenya bus attack: Al-Shabaab militants kill 28 non-Muslims who failed to recite Koran
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Beast of Bolsover' Dennis Skinner takes Ukip MP Mark Reckless to task moments after he is sworn in
Rochester by-election: Labour MP Emily Thornberry resigns after posting white van and England flags tweet
France 'blocks' Russian sailors from boarding a warship
Revealed: How the world gets rich – from privatising British public services
Myleene Klass: Ed Miliband 'strikes back' by comparing UK's need for Labour's mansion tax to Hear'Say track
iJobs Money & Business
Voluntary Only - Expenses Reimbursed: Reach Volunteering: Age Concern Slough a...
Voluntary Only - Expenses Reimbursed: Reach Volunteering: Crossroads Care is s...
£20000 - £25000 per annum + OTE £35,000: SThree: We consistently strive to be ...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...