Diamond Bus North West

[GMBuses North]

RE: Diamond Bus North West

(03/06/2023 11:04)Mayneway Wrote:  I believe they are being sold along with the depot to TFGM.

Then onwards to Go North West.

[moreton407]

RE: Diamond Bus North West

(01/06/2023 10:07)Winston Wrote:  Contracts have been conditionally exchanged between Rotala & TfGM for the sale of Bolton Depot & 134 current DBNW buses for transfer to the RV Pool, the remaining 56 buses at DBNW will be retained by Rotala:

http://otp.investis.com/clients/uk/rotal...id=1691633

Does cash get exchanged too?

[TheShire]

RE: Diamond Bus North West
It's confirmed by BUSES issue 818 that 60 Volvo B8RLE MCV Evora have been ordered. Making this by far the single largest Evora orders, beating Lothian by double.

[Mayneway]

RE: Diamond Bus North West

(03/06/2023 11:08)GMBuses North Wrote:  Then onwards to Go North West.

I thought ownership stayed with TFGM and they vehicles simply come with the franchise? A bit like the Optare hybrids currently with GNW for the free buses?

[Winston]

RE: Diamond Bus North West

(03/06/2023 21:19)TheShire Wrote:  It's confirmed by BUSES issue 818 that 60 Volvo B8RLE MCV Evora have been ordered. Making this by far the single largest Evora orders, beating Lothian by double.

BUSES is wrong, that was the original order, it has since been switched to ADL E200MMC's.

[TheShire]

RE: Diamond Bus North West

(04/06/2023 09:52)Winston Wrote:  BUSES is wrong, that was the original order, it has since been switched to ADL E200MMC's.

I see

[GMBuses North]

RE: Diamond Bus North West

(03/06/2023 23:05)Mayneway Wrote:  I thought ownership stayed with TFGM and they vehicles simply come with the franchise? A bit like the Optare hybrids currently with GNW for the free buses?

The buses are purchased from the pool by the incoming operator.

[Winston]

RE: Diamond Bus North West

(03/06/2023 10:11)Metroline1511 Wrote:  I wonder whether they are being sold directly to Go North West, or to the TfGM RV for GNW to use on those services.

I'm not 100% sure on how the transaction is setup, but as I understand it, Rotala have sold the buses to the TfGM RV Pool (Residual Value Pool), GNW will then purchase those vehicles for use in their Bolton & Wigan Franchise.

TfGM have purchased Bolton Depot and this will remain in TfGM's ownership even once the Bolton Franchise commences.

[Winston]

RE: Diamond Bus North West

(03/06/2023 20:27)moreton407 Wrote:  Does cash get exchanged too?

As per the Rotala RNS:

The Company will receive cash consideration of, in aggregate, approximately £30.4 million for the assets included within the two disposal stages outlined above. The total unaudited net book value of these assets, at their respective dates of sale, is expected to be approximately £23.0 million. The proceeds of the Proposed Disposals will be used as follows:


1. to repay the mortgage and hire purchase debt, totalling approximately £14.9 million, related to the assets which are being disposed of;

2. to repay the remaining outstanding drawings on the Company's Revolving Commercial Facility, totalling £10.8 million, which resulted from the Tender Offer to return £10.0 million to shareholders in February 2023 and the property purchase in March 2023; and,

3. in respect of the balance of the consideration, to strengthen the Company's balance sheet.

http://otp.investis.com/clients/uk/rotal...id=1691633

[Winston]

RE: Diamond Bus North West

(04/06/2023 12:26)TheShire Wrote:  I see

New ADL E200MMC's currently on order in Bee Network Livery for the 7 small franchises are as follows:

25 x 9.7m (27 Seaters) - numbered 20600-20624
35 x 11.8m (37 Seaters) - numbered 30650-30684

These are due for delivery during Jan 2024

Source Rotala Group Fleetlist 05/06/23