Tourism and bus company Kelsian (ASX:KLS)
, previously known as SeaLink Travel, is selling its East London bus operations to Stagecoach for $35 million (£20 million) as it repositions its business in the UK.
Kelsian will continue to participate in the London bus market via its 12.5 per cent stake in the RATP Dev Transit London joint venture and its 100 per cent interest in the Westbourne Park bus depot.
The transaction is expected to be completed in late June, subject to a number of conditions.
Shares in Kelsian Group (ASX:KLS)
are trading 1.6 per cent higher at $7.55.