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Badger buy-out

27th September 1986, Page 6
27th September 1986
Page 6
Page 6, 27th September 1986 — Badger buy-out
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Which of the following most accurately describes the problem?

• Badgerline, the National Bus Company subsidiary, has been sold to its management in the second NBC bus company buy-out.

Announcing the sale, Transport Minister David Mitchell said it showed that the NBC's privatisation programme was gaining momentum, with the sale coming only a month after the management buy out of Devon General.

Mitchell said he welcomed the fact that Badgerline, which operates in Somerset, Avon and Wiltshire, was planning to introduce a profit sharing scheme for employees next year and that many employees had joined the buy out.

Badgerline has about 900 employees and 350 vehicles. It only started operating on January 1, having been formed from the Country Bus sector of NBC's Bristol Omnibus subsidiary.