Stagecoach completes Coach America bus deal
- 23 July 2012
- From the section Scotland business
Transport group Stagecoach has completed the purchase of parts of US bus firm Coach America.
The Perth-based company said it had bought a total of nine businesses, including operations in Texas and California, for a cash sum of $134.2m (£86.3m).
Stagecoach has also bought 12 coaches for $2.9m (£1.9m).
Coach America has the option to sell more vehicles to Stagecoach up to the value of $22.7m (£14.6m).
The US firm, which is headquartered in Dallas, was placed under Chapter 11 bankruptcy protection in January.
At the time the deal was announced in May, the Scottish group said the businesses it was acquiring would provide depot infrastructure, enabling it to expand its megabus.com budget coach network in the US.