Friday, December 16, 2022, 3:35 PM
Transportation provider FirstGroup has completed the sale of all but two of its legacy American Greyhound property portfolio to Twenty Lake Holdings in a £122m deal.
The first group Announce the sale of its greyhound portfolio on September 2, and assets and liabilities are expected to generate £140m in revenue at the end of the next financial year.
Following receipt of the proceeds, FirstGroup has announced a £75m ordinary market share buyback of 5p which will commence on 19th December and expire on 18th December 2023.
Last month, the Aberdeen-based company bought £15.7m of 2024 6.875% 100.67% notes as part of a Bank of England bond auction, leaving £184.3m of the bonds outstanding.
In addition, FirstGroup’s debt financing costs will drop by around £1m a year from this month onwards.
Grahan Sutherland, CEO of FirstGroup, said: [We are ] In a strong financial position, with a balanced capital allocation policy and a clear strategy.”
He added that the transportation service provider was well-placed to assume responsibility. A major role in carbon removalAccessible by public transportation
Source link
[Denial of responsibility! wideworldmag.co.uk is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – at wideworldmag.co.uk The content will be deleted within 24 hours.]
