LTA Bidders: 4 Shortlisted

London Transport has shortlisted four bidders for the final stage of the sale of LTA Advertising Limited; they are:

• Management and Employee Buy-out Team headed by Brian Robinson, LTAAL’s managing director

• More O’Ferrall, the UK’s largest outdoor advertising contractor

• A consortium led by Transportation Displays Inc, the largest transport advertising company in the US. The consortium also includes Hambro Group Investments and Baring Communications Equity.

• A consortium led by Primesight Ltd, a UK outdoor advertising company, and Giraudy, the largest outdoor advertising company in France.

Before any one is chosen, the bids will need to be cleared by the Office of Fair Trading. Ian Harkness, LT’s Director of Trading said that there were 46 companies initially who had shown interest in the sale.

Brian Robinson, who is heading the Management and Employee Buy Out, said “I am confident that the MEBO can win…the MEBO welcomes the opportunities which privatisation presents for business expansion.”

The deadline for final offers is June, with the sale completed by the end of July. LTA will continue to trade as usual until the sale is completed.

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