FFW advises Tellings Golden Miller Group plc on disposal of the London Bus Division
09 June 2005
Field Fisher Waterhouse acted for Tellings Golden Miller Group
plc on the proposed disposal of its London Bus Division to National
Express Group PLC for approximately £20.4 million. The
majority of the proceeds of sale are to be distributed to the
shareholders of Tellings Golden Miller as a special dividend.
The transaction is due to complete on 17 June 2005.
The deal represents the continuation of a successful
relationship between FFW and Tellings which has seen FFW acting for
Tellings on its AIM flotation in 2003, a series of acquisitions and
now on the disposal of its bus division. For National
Express, the transaction will double its presence in the London bus
market.
The FFW team was lead by corporate finance partner Dominic
Gurney-Champion assisted by Christine Phillips and Martin
Griffiths.
Ashurst acted for National Express Group plc.
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7861 4968
Louise Eckersley, PR Executive, on +44 (0)20 7861 4120