Aberdeen-based transport giant FirstGroup has gained regulatory approval to sell its London bus operations for £80 million.
The deals were agreed in April and are part of the group’s strategy of focusing on high-growth areas.
Firstgroup has sold five of its depots in the city to existing London bus operator Metroline, and a further three to Australia transport company Transit Systems Group.
Giles Fearnley, head of UK bus operations at the firm, said: “Our strategy is to focus on those areas of the country which offer the greatest potential and, while we have been a key operator in London for many years, our focus going forward is on the deregulated market outside of the capital.
“We continue to work closely with Transport for London to ensure that the transfer to new operators goes as smoothly as possible.”