Suitors line up for Wallace Arnold

FIRST Choice, TUI and bank ABN Amro have all been tipped as likely bidders for coach operator Wallace Arnold, which has been put on the market for £60 million.

Venture capitalist 3i, which has a majority shareholding in Wallace Arnold, has confirmed it wants to sell the stake after being approached by possible buyers just before Christmas.

A spokeswoman for 3i said: “I can confirm Wallace Arnold is for sale. From our perspective it is a well-managed business operating in a niche in the leisure industry.”