Mobico: National Express owner rises after tying up US school bus sale Transport and infrastructure Shares in Mobico jumped on Tuesday after the owner of National Express closed a deal with private equity for its North American school bus business. The London-listed transport group announced the £457m sale to I Squared Capital back in March as it looked to cut costs and revitalise the business following a string of downbeat [...]
Wickes jumps up to FTSE 250 as National Express owner axed Business Wickes is set to be promoted to the FTSE 250 amid a reshuffle by the London Stock Exchange, while firms such as Mobico, the owner of National Express, and Ferrexpo are expected to be relegated. Wickes has entered the index after its stock price has soared 35 per cent in the last three months, launching [...]
National Express owner’s new chair takes up the reins Business The new chair of National Express owner Mobico faces a gargantuan task to turn around the struggling coach operator. Presenting his first trading update on Monday, Phil White insisted “considerable value and momentum” exists across the group, with a nine per cent growth in revenue indiciative of strong demand for its services. True, the company’s [...]
National Express owner’s chief executive runs out of road April 29, 2025 Mobico’s chief executive is to step down as the group struggles to turnaround persistent financial struggles. Ignacio Garat will depart at the end of April after nearly five years in the top job, in which he oversaw the group’s rebrand from National Express in 2023. Mobico chair Phil White, who served as CEO of National [...]
Mobico: National Express owner’s school bus deal leaves much to be desired April 25, 2025 National Express owner Mobico has at long last agreed a deal to flog off its struggling North American school bus division. The London-listed bus and coach firm on Friday unveiled plans for a £457m sale to the US infrastructure investor, I Squared Capital. Its school bus segment had weighed on shares since the pandemic amid [...]
Mobico shares crater amid £460m North American school bus sale April 25, 2025 Mobico shares cratered more than 35 per cent on Friday as it announced plans to sell its North American school bus business to the US infrastructure investor, I Squared Capital. The much-anticipated deal is valued at £460m, which is less than analysts had expected. Mobico said it would lead to upfront net proceeds of around [...]
Mobico: National Express owner begins to turn a corner November 7, 2024 National Express owner Mobico has said it is on track to hit operating profit targets for the full year, following a torrid period that saw its chief finance officer exit and shares plummet. The bus and coach firm said it expected to report an operating profit of between £175m and £205m, on an adjusted basis. [...]
Mobico shares jump as National Express owner reports surge in profit August 21, 2024 The FTSE 250 transport operator, formerly National Express, confirmed the sale of its struggling North American unit is underway.
Cosmen family pounces on ‘depressed’ share price of National Express owners June 18, 2024 The Cosmen family has upped its stake in the owner of National Express to 21.1 per cent. from 20.2 per cent.
FTSE 100 reshuffle: Ocado and St James’s Place out, and one surprising new entrant June 6, 2024 The FTSE 100 index has lost some well-known names but gained one unexpected addition.