Q Drive sells to buy shares
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• The t Drive Group is selling part of its bus operations so that it can buy out Q Drive shares belonging to Club Cantabrica Coaches boss David Stewart.
Q Drive plans to sell the High Wycombe depot of its subsidiary Bee-Line to the parent of the Oxford Bus Company.
The transaction will include 50 buses and 130 staff — 87 of which are drivers. The sale should be completed by the end of October.
The High Wycombe depot will act independently of The Oxford Bus Company and will probably trade as The Wycombe Bus Company. But all of its vehicles will operate in Oxford colours.
The other part of the deal involves the sale of Alder Valley's Guildford, Cranleigh and Woking services to the Drawlane Transport Group.
Drawlane says the takeover, planned for the beginning of November, will complement its London & Country services.
The sell-offs will leave Q Drive with a turnover of more than £20m.