RATP Dev, the subsidiary of RATP Group, today announced the signing of a binding agreement for the full sale of its London bus operations, RATP Dev Transit London (RDTL), to FirstGroup plc. RDTL encompasses London United Busways Limited, London Sovereign Limited, and London Transit Limited.
FirstGroup plc is a market leader in the public transport industry, and a major employer, with almost 30,000 people working in bus and rail across the UK and Ireland, a strong balance sheet, and a leading position in decarbonisation. First Bus is one of the largest regional bus operators in the UK, serving more than 20% of the population in the UK with a fleet of around c.4,800 buses, and carrying more than a million passengers a day.
This transaction will allow RATP Dev to focus its resources on its urban rail strategy, in particular driverless metro and high-capacity commuter rail, and in markets where the company has a significant multimodal presence.
RDTL has been a prominent operator in the London bus market since 2011, employing 3,700 people and providing 180 million passenger trips annually on behalf of Transport for London. The company operates 89 routes across west and central London from 10 garages, with a fleet of 982 buses.
RDTL now consistently ranks at the top of Transport for London’s league tables for punctuality and reliability, reflecting its dedication to delivering high-quality service. It is also at the forefront of public transport electrification, with 34% of its fleet already converted to electric and a target to achieve a fully electric fleet ahead of the Mayor of London’s 2034 zero-emissions target.
The combination will benefit both RDTL and First Bus, providing shared bus sector expertise and investment, delivering leadership in service and driving forward electrification of the fleet.
The transaction is subject to customary closing conditions and regulatory approvals, which are expected to take a number of months. Until completion, RDTL will continue its operations as usual, prioritising service excellence for its passengers.
“This strategic decision will position RDTL for continued success, development and capital expenditure under new ownership, while allowing RATP Dev to focus its resources on its key markets and urban rail strategy, which is a core expertise of the Group. We are currently involved in six large-scale mobilisation, opening or extension projects for driverless metro and urban rail across the world, as well as eight major bids,” said Mehdi Sinaceur, Deputy CEO and member of the RATP Dev Executive Board. “We are confident that FirstGroup plc, with their wide-ranging expertise and commitment to driving modal shift and leading in social and environmental sustainability, is the ideal partner to support RDTL’s continued success and contribute to sustainable transportation in London.”