Germany’s Deutsche Bahn sells European subsidiary Arriva to infrastructure investor I Squared

BERLIN (AP) — Germany’s state-owned railway operator, Deutsche Bahn, says it has agreed to sell its European public transport subsidiary, Arriva, to U.S.-based infrastructure investor I Squared Capital. Deutsche Bahn didn’t disclose the value of the planned sale in Thursday’s announcement. It said the transaction should be completed next year. The company is selling Arriva “to enable additional growth in rail transport in Germany and allow it to focus its resources on its core business.” Arriva has about 35,500 employees and operates in 10 European countries. It has bus and train units in the U.K. and also has operations in the Netherlands, the Czech Republic, Croatia, Hungary, Italy, Poland, Slovakia, Slovenia and Spain. Deutsche Bahn acquired the British-based company in 2010.