FirstGroup has announced the sale of GB Railfreight to Europorte, a wholly owed subsidiary of Eurotunnel, in a deal worth £31m.
The move is part of the Aberdeen-based group's recent decision to dispose of a number of non-core assets in order to allow it to focus on reducing its debt burden.
First has owned GBRf since 2003 when it inherited the business with its purchase of GB Railways. The group surprised the industry with its intention to retain ownership of the rail freight operator,...
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