Page last updated at 16:19 GMT, Monday, 19 April 2010 17:19 UK

Arriva on brink of 1.5bn sale to Deutsche Bahn

Arriva bus
Arriva is the UK's third biggest transport group

UK transport group Arriva has confirmed it is close to being taken over by the German national rail company Deutsche Bahn in a deal worth £1.5bn.

Sunderland-based Arriva, which operates in 12 countries and runs several train and bus networks in the UK, said it was in "advanced discussion" over the sale.

Deutsche Bahn had confirmed its bid for Arriva in March. It already operates the UK's Chiltern Railways franchise.

Arriva said its suitor was willing to make a cash offer of 775p per share.

Arriva's UK interests include the CrossCountry rail franchise, most train services in Wales and bus services in major cities including Glasgow, Leeds, Leicester, Liverpool and Newcastle.

Besides Chiltern, Deutsche Bahn is the joint operator of the London Overground service and runs the UK's biggest rail freight operator, Deutsche Bahn Schenker.



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FROM OTHER NEWS SITES
Deutsche Welle Deutsche Bahn offers 1.54 billion pounds for Britain's Arriva - 12 hrs ago
Daily Express Arriva in bid talks with Deutsche Bahn - 32 hrs ago
Spectator FTSE ends day moderately lower as holiday operators slide - 33 hrs ago
Reuters Arriva says D.Bahn makes offer worth 1.5 billion pounds - 38 hrs ago
BusinessWeek Deutsche Bahn to Offer 1.6 Billion Pounds for Arriva (Update1) - 38 hrs ago


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