FirstGroup surges on report of PE interest in US operations
Transport operator FirstGroup surged on Monday following a report that its US operations have attracted interest from several major private equity firms.
FirstGroup
171.90p
15:39 24/04/24
-0.35%
-0.60p
FTSE 250
19,718.39
15:45 24/04/24
n/a
n/a
FTSE 350
4,420.06
15:45 24/04/24
n/a
n/a
FTSE All-Share
4,374.70
15:45 24/04/24
n/a
n/a
Travel & Leisure
7,622.84
15:45 24/04/24
-0.83%
-63.52
According to The Sunday Telegraph, Canary Wharf owner Brookfield, Apollo Global Management and KKR are among a group of potential suitors for FirstStudent and FirstTransit.
The Telegraph cited sources as saying that FirstGroup’s financial advisers have restarted a sales process in recent weeks and attracted "significant" private equity interest.
I Squared Capital, the owner of Irish energy firm Energia, was also understood to have registered its interest.
At 0845 BST, the shares were up 14.2% at 45.42p.