The sale of Scotland's bus and coach builder Alexander Dennis could command a £300million price tag for the leading Scottish business figures who stepped in to rescue the business 11 years ago.
A potential sale has been sounded out in the City, it has been reported, though no formal process has begun. A consortium led by Sir Angus Grossart, Sir Brian Souter and Sir David Murray backed Alexander's future as a Scottish manufacturer when it was caught up in the administration of former parent Transbus in 2004. In the past six months it has landed major orders from GKN, Metrolinx of Canada, and Stagecoach, whose founders Sir Brian and his sister Ann Gloag own 55per cent of Alexander through Highland Global Transport. Noble Grossart, which masterminded the £90m rescue deal, owns 33per cent. The business, which in 1995 merged the Dennis and Plaxton companies in England with Falkirk's Walter Alexander, employs 2,300 around the world and had sales of £541m last year.
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