Mobico Group (MCG): UK Bus asset monetisation
This situation live
MCG Mobico Group
26 Nov 2025 · Exploring options; franchising 2027-2029 · +38% until the next step
Ahead of franchising, the Group continues to explore options to monetise the assets of the business.
26 Feb 2026 · Ongoing; depot and land sold end-2025 · −2% until the next step
UK Bus asset monetisation to continue in preparation for franchising
29 Jul 2026 · Progressing; completion expected before franchising · −15% until the next step
UK Bus asset monetisation progressing with completion expected ahead of the transition to franchising
18 Aug 2026 · Agreement in principle reached; completion expected around November 2026 · −5% until the next step
the Transaction is expected to close around November 2026 ('Completion')
8 Sep 2026 · Agreement in principle; completion expected November 2026 · +68% since
The transaction monetises the UK Bus assets and substantially de-risks the Group from the forthcoming uncertainty of franchising in the area over the coming years.
UK Bus asset monetisation
Agreement in principle; completion expected November 2026
NOV30
Next: Completion of UK Bus sale to WMCA in 37 days
Every step · 5
- 26 Nov 2025 Exploring options; franchising 2027-2029 – Ahead of franchising, the Group continues to explore options to monetise the assets of the business. ↗
- 26 Feb 2026 Ongoing; depot and land sold end-2025 – UK Bus asset monetisation to continue in preparation for franchising ↗
- 29 Jul 2026 Progressing; completion expected before franchising – UK Bus asset monetisation progressing with completion expected ahead of the transition to franchising ↗
- 18 Aug 2026 Agreement in principle reached; completion expected around November 2026 – the Transaction is expected to close around November 2026 ('Completion') ↗
- 8 Sep 2026 Agreement in principle; completion expected November 2026 – The transaction monetises the UK Bus assets and substantially de-risks the Group from the forthcoming uncertainty of franchising in the area over the coming years. ↗
What is happening
Mobico Group: UK Bus asset monetisation – Agreement in principle; completion expected November 2026. ['Agreement in principle; completion expected November 2026']
- In short
- Depots and land were sold at end-2025, giving a £4.3m profit benefit. On 18 Aug 2026 Mobico agreed in principle to sell UK Bus to WMCA for about £24m upfront after liabilities. The 8 Sep 2026 Q2 update restates the November 2026 completion timing, and says the sale monetises the assets and de-risks the Group from franchising uncertainty. UK Bus Q2 revenue fell 1.8%.
- Announced
- 26 Nov 2025 · Exploring options; franchising 2027-2029
- Latest
- 8 Sep 2026 · Agreement in principle; completion expected November 2026
- Timing
- Completion ahead of transition to franchising
- Buyer
- West Midlands Combined Authority (WMCA)
- Price
- About £24m upfront residual proceeds after ~£78m liability deductions
- Deferred
- £5.5m deferred: half end-2027, half on Birmingham Central depot vacant possession (~end 2029)
- Contingent
- £9.9m payable if WMCA reverses or stops progressing franchising before May 2028
- Business sold
- UK Bus: 15m revenue £338m, Adj. Operating Profit £2m; Q2 2026 revenue -1.8%
- Conditions
- Internal reorganisation into Newco; completion accounts; closing around November 2026
- Timetable
- Completion expected in November 2026
What comes next
Completion of UK Bus sale to WMCA (30 Nov 2026).
Briefing
Mobico Group in 4 minutes
Mobico runs buses, coaches and trains in Spain, the UK, the US, Germany, North Africa and the Middle East. Its Spanish business, Alsa, keeps setting records, while UK coach, US contracts and German rail have cost it...
- Act 1Sales grew, profit did not
- Act 2Selling the school buses to cut debt
- Act 3Two bad contracts, one fixed
From the company's own announcements. Not investment advice.
Also at Mobico Group 3 open
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Insider conviction1 director buying – £95k in 1 buy · closed
Insider conviction3 directors buying – £89k in 3 buys · closed
Mobico Group – company page →