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Deutsche Bahn asks for expressions of interest in Arriva by May 3

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Deutsche Bahn asks for expressions of interest in Arriva by May 3
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/File Photo   -   Copyright  Kai Pfaffenbach(Reuters)
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FRANKFURT (Reuters) – German railway operator Deutsche Bahn has asked potential suitors of its British unit Arriva to express their interest in the asset by May 3, according to an advertisement published in the Financial Times newspaper on Wednesday.

Deutsche Bahn said in the ad that it was working with Citi and Deutsche Bank on the divestiture and that it was open to a sale of all of Arriva to one or multiple parties, adding that a flotation is also an option.

The company has come under pressure to plug a funding gap and has said that a sale or listing could help it limit the rise in its debt and give Arriva – which it bought in 2010 – financial leeway for growth.

(Reporting by Arno Schuetze; editing by Jason Neely)

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