Germany's national railway company Deutsche Bahn has completed the sale of the Arriva Group to US-based investment company I Squared Capital.
The company said the sale of Arriva – which operates train and bus networks across 11 European markets – would allow it to focus on its core business in Germany.
The transaction was initiated in October 2023 and has now met closing conditions and received approval from the relevant regulatory authorities.
Deutsche Bahn said in a statement that, together with Arriva, it "has successfully stabilised the business after the Covid-19 pandemic and created the conditions for a sustainable growth strategy focused on the relevant markets. I Squared Capital will support Arriva in its future growth path."
Dr. Levin Holle, Deutsche Bahn chief financial officer, added: "Where it makes sense, we adapt our business portfolio step by step. The now completed sale of Arriva is strategically driven and is strengthening our focus on rail transport in Germany."
Mike Cooper, Arriva Group CEO, said: "Closing this transaction marks an important milestone and an exciting new chapter for Arriva. It is an opportunity for Arriva to recommit to working alongside passenger transport authorities to deliver essential transport links and build a more sustainable future for our colleagues, customers and the communities we serve.
"With the backing of I Squared, an independent and highly reputable infrastructure investor, I am confident that we will deliver on that commitment for the benefit of the millions that Arriva serves."
Arriva's rail operations in the UK include Chiltern Railways, CrossCountry, Grand Central and London Overground, and across Europe it provides around 1.6 billion passenger journeys annually.