Stagecoach pulls out of US school buses business

 
Elizabeth Fournier
FTSE-250 listed transport company Stagecoach has sold its school bus business in the US, offloading an arm of the business it had operated since 1999.

The group’s US business has centered on its growing Megabus network across the country in recent years, and it said that the sale would allow it to focus on less regulated markets.

The school bus operations in Wisconsin were sold to Student Transportation yesterday for almost £30m.

Stagecoach’s Megabus operations, already established in the UK, also serve more than 60 major cities across the US and revenues at the newer business are growing fast – up from $45m (£28.4m) to the end of April 2010 to more than $75m at the same point this year.