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Deutsche Bahn to explore sale, listing of Arriva unit

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Deutsche Bahn to explore sale, listing of Arriva unit
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   -   Copyright  KAI PFAFFENBACH(Reuters)
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FRANKFURT (Reuters) – German railway operator Deutsche Bahn said on Wednesday it will explore a sale or public listing of its British unit Arriva, adding this would enable the group to lower debt and free up cash for growth investments.

Arriva, which employs 53,000 across Europe, generated sales of 5.44 billion euros (4.64 billion pounds)last year. Deutsche Bahn said management has been tasked with exploring a sale of up to 100 percent of Arriva to one or several investors or an initial public offering.

(Reporting by Christoph Steitz; Editing by Susan Fenton)

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