Stagecoach set to sell-up in US

TRANSPORT group Stagecoach is on the verge of selling its taxi businesses in the US.

Pittsburgh Transportation, which is part of Stagecoach's loss-making Coach USA subsidiary, owns Yellow Cabs in Pittsburgh and Checker Cab, Cruiser Cab, Embassy Coach and Express Shuttle USA.

Stagecoach is in the middle of an disposal programme of US assets. Coach USA was bought in 1999 for £1.2 billion. In June, Stagecoach announced that it was selling off parts of the group for £93 million.

Meanwhile, founder Brian Souter can now enjoy his 72% pay increase in peace after he survived a vote over his £322,000 bonus at the annual meeting.