Passenger Transport: March 11, 2022

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FO EV RT ER NI Y GH T

ISSUE 260 11 MARCH 2022

NEWS, VIEWS AND ANALYSIS FOR A SECTOR ON THE MOVE

Rival Stagecoach offer gives certainty to staff

Group’s directors support cash offer from German asset manager DWS, scuppering National Express merger that would have seen redundancies Stagecoach looks set to retain its independence after receiving a rival £595m cash bid from German asset manager DWS, trumping a takeover offer from its UK rival National Express. The bus, coach and tram operator said the deal would provide “greater certainty over the future, with overall headcount in frontline operational roles expected to remain the same”. Stagecoach’s existing headquarters in Perth, London and Stockport, and related roles, will be retained. Chief executive Martin Griffiths, finance director Ross Paterson and UK managing director Carla Stockton-Jones

would remain with the business. Commenting on the offer, Griffiths said: “We believe it will open a new and exciting chapter for Stagecoach, backed by a team who share our vision for a more sustainable future.” The proposed merger with National Express, which had been recommended by Stagecoach’s management, would have seen Griffiths and Paterson depart,

“We believe it will open a new and exciting chapter” Martin Griffiths

along with further headcount reductions to unlock synergies. Stagecoach said DWS, which also has a stake in Yorkshire Water, was a “patient long term infrastructure investor”. Hamish Mackenzie, head of infrastructure at DWS said: “Stagecoach is a fantastic business with an exciting future as a central player in a revitalised UK bus and coach market ... We are focused on supporting Stagecoach and its management team to deliver their strategy for the benefit of passengers, local communities and employees, as well as helping achieve ambitious plans for reaching Net Zero.”

NEWS

Liverpool City Region backs bus franchising

05

‘We have the power to roll back the 1980s’

INNOVATION & TECH

Cardiff plans SMART corridors

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Council will use tech to favour buses

COMMENT

My 10-point plan to boost morale

16

Alex Warner urges management to act

COMMENT

‘Long wait for Crossrail will be worth it’

20

Christian Wolmar on delayed project

CAREERS

Determined to ‘break the bias’ EYES ON EUSTON HS2 Ltd has published updated concept designs for the exterior and interior of its high speed railway terminus station at London Euston. It features a bold geometric roof design to allow natural light to flood in.

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26

International Women’s Day marked

09/03/2022 17:55


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