German transport group close to Arriva takeover
Deutsche Bahn set to takeover Arriva.
The state-owned German transport group Deutsche Bahn (DB) is
close to completing the acquisition of Arriva, one of Britain's bus
and train networks.
Negotiations are believed to be in the final stages, with DB
having tabled a bid of £1.6 billion for the network, according to
DB's board is expected to give the deal the green light this
week, paving the way for the takeover to officially happen the week
The buyout, for which talks initially began last month, would
represent a significant acquisition for DB.
Not only is Sunderland-based Arriva one of the UK's biggest
public transport operators, it also has operations in 12 other
countries and boasts a staff count of 44,000.
As such, the purchase of Arriva represents a sizeable portfolio
boost for DB, particularly at a time when public transport
companies across Europe are trying to increase holdings following
the deregulation of transport markets.
DB transports 1.8 billion passengers by train and 779 million by
bus every year.