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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.
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Mobico vende buses escolares norteamericanos para reducir la deuda de £1,2 mil millones, las acciones aumentan más del 20%.