Following talks with owners Deutsche Bahn (DB), US firm Carlyle and Germany’s DWS are preparing bids for Arriva, news agency Reuters has reported.
According to the article, the auction process – led by Deutsche Bank and Citi – is due to begin this month, and is expected to value the operator at around £3.10bn.
The two companies join North American private equity firm Apollo and French operator Keolis, which are also preparing bids according to Reuters’ sources.
The sources also suggest that DB is against a ‘piecemeal’ sale of Arriva, meaning operators like Stagecoach and Go-Ahead wishing to purchase sections of the business may be out of luck.
Instead, it wants to offload the whole company in one go to reduce its debt pile, which was 19.5bn euros by the end of 2018.
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