Slaughter and May and Kirkland & Ellis are advising on Mobico's $608 million sale of its US school bus business to private equity firm I Squared Capital.
Mobico is the FTSE 250 group formerly known as National Express Group.
Slaughter and May and Kirkland & Ellis are advising on Mobico Group’s $608 million (£457 million) sale of its North America School Bus business to private equity infrastructure giant I Squared Capital.
Mobico - the FTSE 250-listed transport group formerly known as National Express Group - announced the deal last week (25 April) week as part of a wider plan to strengthen its balance sheet and reallocate resources toward growth areas.
North America School Bus is one of the largest school bus operators in the US, operating more than 14,000 vehicles. The deal, which is subject to regulatory and antitrust approvals, is expected to complete in the third quarter of 2025.
Advising
Slaughters is advising Mobico on UK legal matters, with a team led by corporate partners Alex Dustan and David Johnson, according to The Lawyer.
Johnson was recently elected as Slaughters' new managing partner and is set to take up the role on 1 August.
US firm Foley & Lardner is advising Mobico on US legal aspects of the transaction.
Kirkland is advising I Squared Capital, with a team led by Houston corporate partners Kyle Watson and Claire Campbell, alongside specialists across M&A, finance, tax and employment.
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