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Bristol buyout backed by Midland Red West

24th September 1987
Page 23
Page 23, 24th September 1987 — Bristol buyout backed by Midland Red West
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Which of the following most accurately describes the problem?

• Bristol Omnibus is the latest operator to be sold off as part of the Government's privatisation of National Bus Company.

Bristol, which trades under the name City Line, has been bought by its management in partnership with Midland Red West of Worcester — another former NBC subsidiary.

Bristol's managers will have a substantial shareholding, but Midland Red West will hold a controlling stake. The company's 1,100 employees will be given the chance to buy shares.

Graeme Varley, Bristol's managing director, will stay in his job, while Ken Mills, chairman of MRW, will become chairman of both companies.

The City Line fleet numbers almost 400. Its buses and minibuses serve the city and surrounding area from its head depot at Lawrence Hill and three other depots in the city.

Bristol is the 45th bus firm to be sold under the NBC break-up. At least five others are due to go in October: negotiations with likely buyers are "at a delicate stage." 0 NBC has found a "probable buyer" for its inter-city coaches division, National Express.


Locations: Bristol, Worcester

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