This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8636503.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Deutsche Bahn agrees Arriva deal | Deutsche Bahn agrees Arriva deal |
| (about 1 hour later) | |
| UK train and bus operator Arriva has agreed to be taken over by Germany's Deutsche Bahn in a deal worth £1.59bn. | UK train and bus operator Arriva has agreed to be taken over by Germany's Deutsche Bahn in a deal worth £1.59bn. |
| The deal is set to create one of Europe's biggest rail and bus transport groups. | The deal is set to create one of Europe's biggest rail and bus transport groups. |
| Deutsche Bahn runs Germany's national rail services, as well as Chiltern Railways and rail freight services in the UK. | Deutsche Bahn runs Germany's national rail services, as well as Chiltern Railways and rail freight services in the UK. |
| Arriva runs rail and bus services in 12 European countries, including Arriva Trains Wales in the UK. | Arriva runs rail and bus services in 12 European countries, including Arriva Trains Wales in the UK. |
| Deutsche Bahn's chief executive Rudiger Grube said he expected the deal to help his company expand further in Europe, targeting Europe's "increasingly liberalised and fast-growing transport markets" which he said were "of strategic interest to Deutche Bahn". | Deutsche Bahn's chief executive Rudiger Grube said he expected the deal to help his company expand further in Europe, targeting Europe's "increasingly liberalised and fast-growing transport markets" which he said were "of strategic interest to Deutche Bahn". |
| Consolidation plans | |
| The German operator is keen to expand beyond its domestic market, where it faces increased competition. | The German operator is keen to expand beyond its domestic market, where it faces increased competition. |
| Arriva's chairman Sir Richard Broadbent said the £1.59bn price tag "fully reflects the value of the business". | Arriva's chairman Sir Richard Broadbent said the £1.59bn price tag "fully reflects the value of the business". |
| Shareholders will now be asked to give their approval for the deal. | |
| A takeover of the Sunderland-based company has been on the cards for months amid a trend towards consolidation of the European transport industry. | |
| Arriva's agreement with Deutsche Bahn follows talks earlier this year with France's train operator SNCF, which ultimately broke down. | Arriva's agreement with Deutsche Bahn follows talks earlier this year with France's train operator SNCF, which ultimately broke down. |
| Deutsche Bahn's Mr Grube said he expected the newly merged group to eventually be one of the few leading transport companies operating in Europe. |