EQT completed the acquisition of First Student and First Transit from FirstGroup for $4.6bn.

EQT Partners completed the acquisition of First Student and First Transit, two bus operators, from FirstGroup, a British multi-national transport group, for $4.6bn. "We are pleased to announce the completion of the sale of First Student and First Transit and a significant increase in the proposed return of value to shareholders this autumn. This delivers on our strategic objective and creates a focused and stronger business with a bright future. The vital role of public transport in the UK has never been clearer, and with the most supportive policy backdrop in decades coupled with our strong credentials, FirstGroup is in prime position to deliver on its goals with a well-capitalised balance sheet and an operating model that will support attractive dividends," David Martin, FirstGroup Chairman.