FirstGroup (FGP): West Yorkshire bus franchising

This situation live

£1,112m · 232.2p · +7% since the first step

Disposal of a part (break-up)

West Yorkshire bus franchising

Depots sold; two first-tranche franchises awarded

Price£109.0m · 9.4% of market value

MAY1 Next: First franchise tranche goes live; fleet sales begin in 179 days

Every step · 1

2 Nov 2026 Depots sold; two first-tranche franchises awarded – The depot sales have completed, and the fleet sales will occur as the three WYCA franchise tranches go live, currently planned for May 2027, January and... ↗

What is happening

FirstGroup: West Yorkshire bus franchising – Depots sold; two first-tranche franchises awarded. ['Depots sold; two first-tranche franchises awarded']

In short: On 2 Nov 2026 FirstGroup announced it had agreed the £109m sale of five West Yorkshire depots and 330 buses to WYCA, with the depot sales completed. It was also awarded two first-tranche franchise contracts (Bramley, Huddersfield) worth c.£40m annual revenue from May 2027. Fleet sales and gains follow in FY 2028 and FY 2029, depending on contracts won in tranches two and three.
Announced: 2 Nov 2026 · Depots sold; two first-tranche franchises awarded
Price: £109m for five freehold depots, fixed assets, 251 diesel and 79 electric buses
Buyer: West Yorkshire Combined Authority (WYCA)
Status: Depot sales completed; fleet sales as franchise tranches go live
Gain and cash: c.£30m post-tax adjusting gain on depots; c.£55m cash inflow in FY 2027
Contracts: Bramley and Huddersfield, c.£40m annual revenue, five-year core term plus two-year option from May 2027
Timetable: Tranches go live May 2027, January 2028 and October 2028

First franchise tranche goes live; fleet sales begin (1 May 2027).

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

From the company's own announcements. Not investment advice.

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