Mobico Group (formerly NX Group)

[winston]

https://www.worcesternews.co.uk/news/17739202.national-express-is-bidding-to-take-over-first-buses-county-operation/

Rumour mill???

There's some decent First UK Bus ops potentially up for sale that share the same operating characteristics as NXWM i.e. high frequency, urban areas, former PTE & scale. Therefore, can't see any reason why NX Group wouldn't be interested in some, opportunities like that don't come along very often.

Bristol, Glasgow & West Yorkshire would be top of my target list, plus possibly Worcester & Leicester more locally.

[paulb1973]

There's some decent First UK Bus ops potentially up for sale that share the same operating characteristics as NXWM i.e. high frequency, urban areas, former PTE & scale. Therefore, can't see any reason why NX Group wouldn't be interested in some, opportunities like that don't come along very often.

Bristol, Glasgow & West Yorkshire would be top of my target list, plus possibly Worcester & Leicester more locally.

All rumour at the moment - but could NX cherry pick the 'best' bits, whatever they might be?

[Tony]

All rumour at the moment - but could NX cherry pick the 'best' bits, whatever they might be?

Depends if the price is right! NX reckon Manchester was over priced

[winston]

Depends if the price is right! NX reckon Manchester was over priced

Manchester was in poor shape, the likes of Bristol, Glasgow & FWY are far more profitable & would come with much newer fleets.

Places like Worcester & Leicester would be an ideal locations to cascade the excess NXWM single decker's too.

[LazyGuy222]

Leicester still needs more double deckers too. Our buses are going left right and centre. How we haven't got a shortage of buses is beyond me. NX would be good for Leicester, but I think arriva will try and step in so they can control Leicester.

[winston]

Leicester still needs more double deckers too. Our buses are going left right and centre. How we haven't got a shortage of buses is beyond me. NX would be good for Leicester, but I think arriva will try and step in so they can control Leicester.

I was referring to Leicester's B7L fleet which are long in the tooth now + the 05 plate B7RLE's... Arriva wouldn't be allowed to buy First Leicester & control the whole local bus market, CMA would block such a deal. Besides, Arriva themselves are up for sale & dependent on the final buyer, they could get broken up & sold off.

[LazyGuy222]

The B7Ls and B7RLEs are starting to be replaced by 59 reg RLEs from Bath. I didn't know arriva wouldn't be  allowed. Thanks some good information

[winston]

The B7Ls and B7RLEs are starting to be replaced by 59 reg RLEs from Bath. I didn't know arriva wouldn't be  allowed. Thanks some good information

The 59 plates still aren't that much newer the 05 plates they replace. Arriva would control the majority of Leicester routes, other than Centrebus, there would be very little competition left.

[Tony]

I was referring to Leicester's B7L fleet which are long in the tooth now + the 05 plate B7RLE's... Arriva wouldn't be allowed to buy First Leicester & control the whole local bus market, CMA would block such a deal. Besides, Arriva themselves are up for sale & dependent on the final buyer, they could get broken up & sold off.

There's an additional complication in Leicester. Wellglade own just over 6% of First Leicester unless they have sold out recently

[LazyGuy222]

There's an additional complication in Leicester. Wellglade own just over 6% of First Leicester unless they have sold out recently

I believe they still do own the 6%

[winston]

There's an additional complication in Leicester. Wellglade own just over 6% of First Leicester unless they have sold out recently

That depends on how you look at it, Wellglade can't block any deal or really block any change with only on 6% shareholding. More importantly, it would build a relationship with Wellglade and you never know where that could lead in the future should they ever want to sell out.

[Tony]

Another good 6 months

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2019/half-year-results-for-the-period-ended-30-june-2019/

[winston]

Another good 6 months

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2019/half-year-results-for-the-period-ended-30-june-2019/

Another excellent set of results, the only one thing that jumps out at me, is net debt grew by +38% from £922.1 million to £1.2763 Billion. Net Debt is now back above 2009 levels again.

NX Pension deficit also rising:
https://www.pensionsage.com/pa/National-Express-DB-pension-deficit-rises-to-125m.php

[Tony]

Another major expansion in Casablanca

https://mailchi.mp/d131ae8e2263/major-1bn-bus-contract-caps-summer-of-success?e=b32bcb473f&fbclid=IwAR15d9ln31DtMslYpytqt_GuDtXdo-ZFNzeqZnA1N4w4zOUEtRV7E8STTIk

[winston]

Another major expansion in Casablanca

https://mailchi.mp/d131ae8e2263/major-1bn-bus-contract-caps-summer-of-success?e=b32bcb473f&fbclid=IwAR15d9ln31DtMslYpytqt_GuDtXdo-ZFNzeqZnA1N4w4zOUEtRV7E8STTIk

Surprised they released that today, as I believe NX are due to release a trading update tomorrow.