Dame Ann said she welcomed the Crown Office decision.
Her spokesperson said: “The threat that these malicious allegations have posed to Dame Ann’s legacy has been devastating and acute.
“The resulting waste of public funds and police time is deeply concerning and raises serious questions.
“Dame Ann looks forward to moving forward with her life and will take time to reflect on the future focus of her charitable giving.”
A source close to Dame Ann previously told the that the family were “victims of collusion” and had endured “a Kafkaesque nightmare for the last two years.”
Dame Ann co-founded the Stagecoach bus company in 1980, with her brother Sir Brian Souter, and was made a dame for her business and charity work.
The Perth-based firm grew to become the UK’s biggest bus and coach operator, and is now managed by DWS Infrastructure.
When Dame Ann retired from the company in 2019, she was Scotland’s richest woman.
Dame Ann also founded the Gloag Foundation, a charitable trust which works to support projects that “prevent or relieve poverty and encourage the advancement of education, health and religion in the UK and overseas”, according to its website.
