Deutsche Bahn concludes sale of the Arriva Germany-Group to a consortium led by Ferrovie dello Stato
Posted: 28 February 2011 | | No comments yet
Deutsche Bahn has brought to a close the sale of Arriva Germany-Group…
Deutsche Bahn has brought to a close the sale of Arriva Germany-Group...
After the approval of the European Commission granted on February 16th, on Friday Deutsche Bahn has brought to a close the sale of Arriva Germany-Group to a consortium led by Ferrovie dello Stato in partnership with the long-term investor Cube Infrastructure. The parties agreed to keep confidential the details of the sale and purchase agreement.
On August 11th 2010 the European Commission approved the acquisition of Arriva plc. by Deutsche Bahn. The decision was made under the condition that Deutsche Bahn would enter into a sale and purchase agreement with a suitable buyer over the entire train and bus business of Arriva Germany by December 11th 2010.
Arriva Germany was managed independently from Deutsche Bahn. Additionally an information barrier between the Arriva Germany business and DB was in place. Compliance with the information barrier and the other commitments visà-vis the European Commission were monitored by the Trustee appointed by the European Commission.
By selling Arriva Germany to Ferrovie dello Stato Deutsche Bahn has now fulfilled all requirements as set out by the European Commission in connection with the acquisition of Arriva plc.