FirstGroup (LSE:FGP) has completed the sale of Mistral Data to Tracsis for £48m.
The transport operator first flagged the disposal on 29 July, and the deal closed on 23 August.
Tracsis, listed on AIM under the ticker TRCS, paid the full consideration on completion, subject to customary adjustments.
Panmure Liberum acted as financial adviser to FirstGroup on the disposal.
News Intelligence what this means for the company
FirstGroup has completed the £48m sale of Mistral Data to Tracsis, with cash received on 23 August following the announcement in late July. The disposal realises a profit on disposal of about £46 million, a material one-off gain that shores up the group's balance sheet but does not alter the underlying transport operations that drive recurring earnings.
The sale removes a non-core software asset and converts it to cash, but FirstGroup's investment case remains anchored to regulated bus and coach operations, large infrastructure contracts (Hinkley Point C, Sizewell C), and fleet decarbonisation execution. A single disposal does not change that trajectory.
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