SBG: single sale denied
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• The Scottish Office has denied rumours that the Scottish Bus Group (SBG) will definitely be sold as a single company.
Scottish Secretary Malcolm Rifkind plans to appoint a financial expert to advise on the group's privatisation; particularly whether or not it should be dismantled prior to the sale. SBG says it supports a management/employee buyout of the company as a single unit, and hopes that this will be the outcome of the Scottish Office adviser's investigation.
Transport companies have been expressing an interest in parts of the group: Lothian Regional Transport has already enquired about SBG member Eastern Scottish. It is believed that Rifkind will support bids from SBG, rather than see the group go to English or foreign ownership. In a statement to the House of Commons he said: "Privatisation will allow investment decisions to be made in Scotland, free of the Government's constraints on nationalised industry financing."
The SBG employs 9,000 people and has more than 3,000 buses on the road.