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London Buses Ltd (1994 - 1995)

As group Finance Director was responsible for the disposal of ten operating subsidiaries each having a turnover of some £ 40m as part of the government’s privatisation programme. This work involved:

London Bus

• Preparation and verification of information memoranda
• Liaison with merchant bankers (BZW), solicitors (Freshfields), auditors and tax advisors (KPMG) and the Dept of Transport
• Establishing data rooms for purchasers’ due diligence
• Review and shortlisting potential bidders
• Evaluating bids
• Negotiating warranties and indemnities
• Maintaining tight financial controls over the subsidiaries during the sale process