Brief: Mobico Group Agrees To Sell Uk Bus To West Midlands Combined Authority For £24 Million Upfront
BRIEF-Mobico Group Agrees To Sell Uk Bus To West Midlands Combined Authority For £24 Million Upfront Aug 18 (Reuters) - Mobico Group PLC MCG.L:
MOBICO GROUP PLC - PROPOSED SALE OF UK BUS
MOBICO GROUP - AGREES TO SELL UK BUS TO WEST MIDLANDS COMBINED AUTHORITY FOR £24 MILLION UPFRONT
MOBICO GROUP - DEAL INCLUDES TRANSFER OF £25 MILLION IFRS16 LEASE LIABILITIES AS AT 31 MAR 2026
MOBICO GROUP - FURTHER DEFERRED CONSIDERATION OF £5.50 MILLION PAYABLE THROUGH 2029
MOBICO GROUP PLC: CO IS REQUIRED TO UNDERTAKE AN INTERNAL REORGANISATION PRIOR TO COMPLETION OF TRANSACTION
MOBICO GROUP PLC: RETAINS A NET LIABILITY FOR HISTORICAL INSURANCE CLAIMS OF APPROXIMATELY £5 MILLION AS AT 31 MARCH 2026
MOBICO GROUP PLC: TRANSACTION IS THEREFORE EXPECTED TO BE BROADLY NEUTRAL TO EARNINGS GOING FORWARD AND TO 2026 COVENANT GEARING
Source text: ID:nRSR1240Ra
Further company coverage: MCG.L