RATP London is one of the principal bus operators in the capital, comprising 10 depots across central and West London and a fleet of 1,000 buses, a third of which are electric.
The Acquisition is subject to French government approval and is conditional on TfL consent to the change of control. The Group anticipates completion of the acquisition in 2025.
Graham Sutherland, FirstGroup chief executive officer said: “This is a significant acquisition for the Group that will diversify our portfolio and materially grow our earnings in the medium term. It allows us to enter the London bus market at scale and will also bolster our credentials as we participate in future franchising opportunities across the UK.
“We look forward to continuing to build on our relationship with TfL and welcoming RATP London’s employees into the Group, to continue the transformation of the business and to capitalise on the growth potential in the London market.”
