Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Germany's Deutsche Bahn sells European subsidiary Arriva to infrastructure investor I Squared

Germany’s state-owned railway operator, Deutsche Bahn, says it has agreed to sell its European public transport subsidiary, Arriva, to U.S.-based infrastructure investor I Squared Capital

Via AP news wire
Thursday 19 October 2023 09:53 BST
Germany Deutsche Bahn Arriva
Germany Deutsche Bahn Arriva (Copyright 2020 The Associated Press. All rights reserved)

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Germany's state-owned railway operator, Deutsche Bahn, said Thursday that it has agreed to sell its European public transport subsidiary, Arriva, to U.S.-based infrastructure investor I Squared Capital.

Deutsche Bahn didn't disclose the value of the planned sale. It said the transaction should be completed next year. The company is selling Arriva “to enable additional growth in rail transport in Germany and allow it to focus its resources on its core business.”

Arriva has about 35,500 employees and operates in 10 European countries. It has bus and train units in the U.K. and also has operations in the Netherlands, the Czech Republic, Croatia, Hungary, Italy, Poland, Slovakia, Slovenia and Spain.

Deutsche Bahn acquired the British-based company in 2010. Arriva businesses in “non-core markets," including Sweden and Portugal, already have been sold.

Deutsche Bahn Chief Financial Officer Levin Holle said in a statement that “Arriva has good prospects for sustainable growth as market liberalization in Europe progresses.”

I Squared Capital, headquartered in Miami, was described in Thursday's statement as an independent global infrastructure manager with over $37 billion in assets under management. Arriva Group CEO Mike Cooper said that it “has an established track record of supporting companies which provide essential services, and of investing in the energy transition.”

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in