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US private equity firm buys Arriva bus operator in £1.4bn deal
The Guardian
|October 20, 2023
The London red bus operator Arriva has been bought by the US infrastructure investor I Squared in a deal believed to be worth about €1.6bn (£1.4bn).
Arriva was put up for sale in 2019 by its German owner, Deutsche Bahn, which had sought to offload the company to reduce its own debts.
While the terms were not disclosed, Deutsche Bahn is understood to have sold Arriva for about €1.6bn, including debt. There have been efforts to stabilise the business after the Covid pandemic, which brought most public transport to a halt.
This story is from the October 20, 2023 edition of The Guardian.
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