Stagecoach have purchased the East London Bus Group back from Australian investment bank Macquarie, to whom they originally sold the firm in 2005 (making it then the largest independent operator in the UK). ELBG has been performing worse than Macquarie hoped for some time, something that’s reflected in the tidy profit Stagecoach have made on the deal – Macquarie paid them £263.5m for ELBG in 2005, and Stagecoach have only paid £52m to buy it back. Macquarie are on record as ...
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