German Deutsche Bahn sells European public transport subsidiary Arriva

German public railway company Deutsche Bahn (DB) announced that it has reached an agreement to sell its European public transport subsidiary Arriva to US infrastructure investor I Squared Capital.

The DB statement states that I Squared Capital has agreed to acquire Arriva, which provides public transport services in England, the Netherlands, the Czech Republic, Croatia, Hungary, Italy, Poland, Slovakia, Slovenia and Spain.

No information on the financial details of the acquisition was provided in the statement.

IT IS EXPECTED TO BE COMPLETED NEXT YEAR

The sales agreement is expected to be completed next year after receiving the necessary approvals.

On the other hand, the statement states that DB sold Arriva to achieve additional growth in rail transport in Germany and focus its resources on its core business.

Deutsche Bahn acquired UK-based Arriva in 2010. (BRITISH AUTOMOBILE CLUB)