Stagecoach sells Metrolink business

TRANSPORT giant Stagecoach has sold its Stagecoach Metrolink subsiary which operates and maintains Manchester’s metrolink service to French firm Ratp Developpement.

No price was disclosed for the company, which currently has a ten-year contract with Transport for Greater Manchester to operate Metrolink until 2017, but the company’s gross assets were valued at £16.2m.

Stagecoach said that the deal only relates to its Metrolink operations and does not include the business which operates Sheffield’s tram network.

“The Group is not engaged in any discussions regarding a sale of the Sheffield tram operations,” it added.