Lowland sold in Um deal
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• Lowland Scottish has been sold to its management and employees for about Vim.
The first sale in the Scottish Bus Group privatisation was welcomed by other SBG management teams who are hoping to repeat the success of the Lowland team, led by managing director Douglas Yelling.
Other contenders for the 120-bus operation, based in Scotland's Borders region, included neighbouring Northumbria, and the former Scottish municipal operator Grampian Transport.
Eastern Scottish has become the fourth SBG company to go on the market, and many believe that competition will be fierce for the 400-bus Edinburgh-based operator. Companies which have already expressed an interest include Grampian Regional Transport, Stagecoach and Badgerline. Eastern Scottish managing director Andrew Gall is leading a management/employee bid.
Employee-owned GRT has secured a 220m funding package through Touche Ross Corporate Finance. Moir Lockhead, chairman of GRT's parent company, GRT Holdings, says SBG companies are its main target.
In April Commercial Motor exclusively revealed that GRT was planning to buy Northern Scottish later this year.