Go-Ahead gifts overseas owners over £80m in dividend payouts Business Go-Ahead Group, which runs the Govia Thameslink franchise, has paid out over £80m to its foreign owners as it brings back dividends.
Australian bidder walks away from £650m race to snap up rail giant Go-Ahead Final stop for Kelsian Australia-based Kelsian confirmed this morning it has pulled out from the race to buy Go-Ahead – weeks after the board picked a rival offer. The business said falling share prices in Australia tied its hands and forced the group to walk away from a potential tie-up. Kelsian is one of Australia’s biggest bus and ferry [...]
Go-Ahead’s bidder weighs options following group’s optimistic outlook GO-AHEAD Australian tour operator Kelsian said it was still weighing its options over the possible takeover of Go-Ahead as the transport powerhouse remained optimistic following a surge in passengers. Kelsian, which has until 1 August to make a firm offer, is going up against the £647.7m offer made by an Australian-Spanish consortium. The consortium – made [...]
Exclusive: Go-Ahead’s buyers not afraid of bidding war with Kelsian June 14, 2022 The Australian-Spanish consortium that has made an offer of around £650m for Go-Ahead said it’s not worried about a war with the group’s other bidder, tour operator Kelsian. “Our offer presents a very strong premium,” said Michael Sewards, the chief executive of one of the consortium’s two partners, Australian bus operator Kinetic. “We think now [...]
Australian-Spanish consortium makes £647.7m firm bid for Go-Ahead June 13, 2022 A consortium made up by Australian bus operator Kinetic and Spanish infrastructure group firm Globalvia has announced its £647.7m firm offer for Go-Ahead. Recommended by the company’s board, the offer represents a premium of 48.5 per cent to the UK bus operator’s closing price on 25 May as well as a 77.6 per cent increase [...]
Go-Ahead shares surge after bus operator receives two takeover approaches June 13, 2022 Go-Ahead has seen its stock price surge after receiving two takeover approaches, which it said it was inclined to accept. The bus operator is the latest transport firm to be courted by international investors. Fellow coach company Stagecoach was snatched by German asset manager DWS Infrastructure in May while last week public transport titan [...]
Accounting watchdog launches probe into Deloitte’s auditing of Go-Ahead April 12, 2022 The UK’s accounting watchdog today launched an investigation into Deloitte’s audit of public transport company Go-Ahead Group, after the UK government fined the firm £23.5m for its failures in running Southeastern rail service. The Financial Reporting Council (FRC) said its investigation will focus on Deloitte’s audits of Go-Ahead’s accounts over a six-year period covering the [...]
Go-Ahead to reinstate pre-Covid dividends as new strategy focuses on accountability April 5, 2022 Go-Ahead said today it would go back to paying dividends to shareholders from fiscal year 2022, as part of its new accountability-focused strategy. Following a few troubled months, Go-Ahead’s board recommended between 50 and 75 per cent of underlying earnings per share. The group – which has recently been under scrutiny for a series of [...]
Moody’s withdraws GoAhead’s rating following results delay January 31, 2022 Moody’s has withdrawn Go Ahead Group’s rating following the firm’s announcement last week that its audited results would be delayed until the end of February. The credit rating company has also removed Go Ahead’s Ba1 corporate family rating and its Ba1-PD probability of default rating, after initially reviewing them for a downgrade. Moody’s cited the [...]
Watchdog mulls investigation for EY and Deloitte over Southeastern audits October 3, 2021 The accountancy watchdog is debating whether to launch a probe into the auditors of the Southeastern train line after the company last week admitted to hiding £25m owed to the state. The Financial Reporting Council is looking into whether audit giants EY and Deloitte have a case to answer, sources told the Sunday Telegraph. Last [...]