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26.04.2010 12:12
© Deutsche Bahn
Deutsche Bahn has announced its intention to acquire transport provider Arriva, offering 775 pence per share to shareholders of the UK-listed company. The announcement follows the decision of the supervisory board of Deutsche Bahn AG to give the go-ahead for the planned takeover. According to the Chairman of the supervisory board Prof. Utz-Hellmuth Felcht, the supervisory board approved the deal following intense discussions and an independent valuation report from a major bank. "Having taken this decision, we want to stress that Germany will remain the key market for Deutsche Bahn. This will not have any negative impact on German customers", he said.
Deutsche Bahn CEO Dr. Rüdiger Grube said he was "delighted at the supervisory board's decision. Arriva is a very successful, commercial transport provider in Europe." As well as in the UK, Arriva manages both bus and rail operations in eleven other European countries, including Germany. In 2009, the company's annual revenue amounted to around 3.15 billion pounds with a workforce of 42,300 employees.
Once the deal has been successfully completed, Deutsche Bahn can strengthen its market position in Europe significantly, especially in the UK. "Arriva offers us excellent opportunities. Without this acquisition, we would need many years to gain a competitive edge like this.", Grube concluded.
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