Mobico Group to Offload West Midlands Bus Business for Upfront Proceeds of GBP24 Million

05:26 AM EDT, 08/18/2026 (MT Newswires) -- Mobico Group (MCG.L) agreed to sell its West Midlands bus business to the West Midlands Combined Authority for 24 million pounds sterling in expected upfront residual proceeds after deductions for transferred liabilities. Under the in-principle contract, the British public transport company will receive 5.5 million pounds as deferred payment in equal portions at the end of 2027 and 2029, and another 9.9 million pounds if the buyer reverses or stops actively pursuing the franchising process before May 2028, according to a Tuesday release. The deal is expected to close around November and be broadly earnings neutral. The divestment supports Mobico's strategy to monetize its UK bus assets ahead of potential market-share losses from franchising.