Big Bus owners seek £300 million sale

The founders of sightseeing firm Big Bus Tours are reportedly seeking to cash out in a deal that could net them close to £300 million.

The company, which was founded in 1991 by the Maybury family, could be valued at around £400 million if it is sold to UK private equity firm Exponent, the Times reported.

Big Bus Tours has expanded rapidly in recent years and merged with French rival Les Cars Rouges in 2011.

Besides London and Paris, it provides sightseeing tours in cities such as New York, Hong Kong and Dubai, operating more than 300 buses.

Selling Big Bus Tours would provide a windfall for founders Richard, Desmond and Eleanor Maybury, which could be worth as much as £300 million, according to reports.

Abu Dhabi-based Al Fahim Group owns a 30% stake in the company, having invested in the business in 2007.

US investment bank JP Morgan is leading the sales process, and expectations are growing that a deal could be announced within weeks, the newspaper reported.

Buying the company would come only weeks after Exponent sold to US private equity firm KKR.

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