Deutsche Bahn to work with Deutsche Bank, Citi on Arriva divestiture: sources

FILE PHOTO:  A locomotive engine of German railway Deutsche Bahn is seen at the main train station in Frankfurt
FILE PHOTO: A locomotive engine of German railway Deutsche Bahn is seen at the main train station in Frankfurt, Germany, March 27, 2019. REUTERS/Kai Pfaffenbach/Firle Photo

April 4, 2019

FRANKFURT (Reuters) – German railway operator Deutsche Bahn has picked Deutsche Bank and Citi as advisors on its potential sale or flotation of British unit Arriva, people close to the matter said on Thursday.

Deutsche Bahn said last week that it was exploring a divestiture of Arriva – expected to be valued at more than 3 billion euros ($3.37 billion) in a potential deal – adding this would enable the group to lower its debt pile.

The banks declined to comment, while Deutsche Bahn had no immediate comment.

(Reporting by Arno Schuetze editing by Thomas Seythal)

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