Mobico sells North American school bus business to reduce £1.2bn debt, shares rise over 20%.

Mobico Group, formerly known as National Express, is selling its North American school bus business to reduce its £1.2bn debt. The company's shares rose by over 20% after the announcement. Mobico's half-year operating profit increased by 23.8% to £71.2m, with the European unit, Alsa, reporting a 43.2% rise in operating profit to £82.5m. The North American bus company is a major provider in the US and Canada.

August 21, 2024
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