Holidays leads NB( sell-off
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• The first sale of a National Bus Company subsidiary has been approved by Transport Secretary John Moore.
National Holidays Limited is being sold to the Pleasurama Group, which also owns Smiths Happiways and Shearings Holidays.
Moore said that the Pleasurama bid was one of four offers received and was substantially higher than that from the management of National Holidays.
Pleasurama would continue to employ all the present management and employees of National Holidays who would be given access to the firm's share option and purchase schemes. National Bus recommended the bid from Pleasurama, whic employs 720 people compared with 192 people workin for National Holidays, which will retain its separate identity.
Moore said that the sale marked the start of privatisation for National Bus Compan Transport Minister David Mitchell is to consult with the coach industry in the very near future about the require. ments for new coach design and equipment.
Later this year they would be consulting on the requirements for fitting speed limiters to coaches, he told MPs in the Commons this et-k.