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SOUTHAMPTON CITY COMPLETES MANAGEMENT BUY-OUT OF BUS COMPANY

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Managers and employees of Southampton City Transport have completed a£3m buy-out of the company from the city coun...
Managers and employees of Southampton City Transport have completed a £3m buy-out of the company from the city council, the Financial Times reports (p5).

The company 'Southampton Citibus' expects to make more than £300,000 in pre-tax profits revenues of £10m this year, says the paper. More than 330 of its 420 staff put up £1,200 each to help fund the buy- out.
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