Deutsche Bahn, I Squared Capital sign agreement for sale of Arriva Group
© Reuters. FILE PHOTO: Parked buses are seen at an Arriva bus bepot in Harlow, Britain, April 3, 2020. REUTERS/Andrew Couldridge/File PhotoBERLIN - Deutsche Bahn and Miami-based infrastructure investor I Squared Capital have signed an agreement for the sale of the German rail operator's international transport business Arriva Group, the companies said on Thursday.
The transaction is expected to complete in 2024, subject to the customary closing conditions, including the approval of the Deutsche Bahn's supervisory board and the German transport ministry, they said in a statement.Reuters already reported last week that the sale would value Arriva, which operates red London buses and train services in the UK, at around 1.6 billion euros including debt.
Arriva transports 1.5 billion rail and bus passengers a year with operations across 10 countries and more than 34,000 employees, according to its website. The German state-owned railway company has attempted selling parts of Arriva in the past to raise cash to lower its debt and invest in its domestic infrastructure.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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