Arriva Group is pleased to announce that it has entered into an agreement for the sale of its businesses in Denmark and Serbia, as well as its bus business in Poland to Mutares – an international financial investor – completing its strategy, launched in 2021, to focus on its core markets in the UK and Mainland Europe.
Completion of the transaction is expected towards the end of 2022, subject to customary closing conditions, including, amongst others, approval by the Deutsche Bahn Supervisory Board and the German Federal Ministry for Digital and Transport, as well as antitrust clearance by the respective local authorities.
Commenting on the sale agreement, Arriva Group CEO, Mike Cooper said: “The agreement for Mutares to acquire the businesses in Denmark and Serbia and the bus business in Poland is good news for our colleagues, customers and stakeholders, providing clarity and continuity.
“Mutares has ambitions to maintain and grow operations and strengthen the market positions of these businesses. With a focus on Europe and the company’s expertise in the industry, I believe Mutares is well placed to support the continued development of these businesses going forward.
“I want to take this opportunity to thank everyone in these businesses for their contribution to Arriva and to the important role they have played, and will continue to play, in their local communities. I look forward to seeing them thrive and prosper under a new owner.”
A decision to refocus the Arriva Group portfolio was taken in 2020/21 following a strategic review of the business, carried out in partnership with Arriva’s shareholder Deutsche Bahn, and is part of the company’s forward-looking strategy to maintain a strong and competitive business for the long-term.
Today’s transaction follows the sale of Arriva’s rail and bus business in Sweden to VR Group which was completed in July 2022, and of Arriva’s bus business in Lisbon, Portugal to Dan Group which is expected to complete later this year.
Source: Arriva Group