Arriva sold by Deutsche Bahn

[whole diary]

[old original]

...to US infrastructure investor company, I Squared.  Same company that tried to buy First last year

https://www.msn.com/en-gb/money/companies/uk-bus-and-rail-operator-arriva-bought-by-us-private-equity-firm/ar-AA1ivj5w?ocid=msedgntp&pc=ASTS&cvid=a18273619f404b558f3ad5bc13b3be17&ei=13

[grahame]

...to US infrastructure investor company, I Squared.  Same company that tried to buy First last year

https://www.msn.com/en-gb/money/companies/uk-bus-and-rail-operator-arriva-bought-by-us-private-equity-firm/ar-AA1ivj5w?ocid=msedgntp&pc=ASTS&cvid=a18273619f404b558f3ad5bc13b3be17&ei=13

From The Guardian

Arriva, which is headquartered in Sunderland and employs more than 34,000 people, operates bus and rail services across 10 European countries including the UK^▸ (United Kingdom), where it is one of the largest train operators and runs a 4,700-strong fleet of buses across the country including some of London’s doubledecker red buses.

It operates the London Overground rail network, as well as the Chiltern Railways and CrossCountry franchises and has more than 18,800 staff in the UK.

A spokesperson for I Squared – which is headquartered in Miami – said the US private equity firm had committed €2bn to expand and electrify Arriva’s fleet after its takeover, with a significant portion of those funds expected to be spent on its UK operations.

[eightonedee]

A spokesperson for I Squared – which is headquartered in Miami – said the US private equity firm had committed €2bn to expand and electrify Arriva’s fleet after its takeover, with a significant portion of those funds expected to be spent on its UK^▸ (United Kingdom) operations.

So how's that going to work on the Chiltern Line and the unelectrified parts of the Cross-Country network?

[IndustryInsider]

I imagine they’re talking about their buses, not trains.

[Ralph Ayres]

I imagine they’re talking about their buses, not trains.

...which might be an illustration of how remote the investors are from the company they're buying, or maybe just a poorly-worded press release or sloppy journalism.

[JayMac]

Or perhaps there's a concrete plan to fully electrify the CrossCountry and Chiltern networks and procure suitable rolling stock.




My apologies. I'm on strong pain medication at the moment. Degraded capacity for rational thoughts.

[trainbuff]

I understand also based out of the Cayman Islands for tax purposes!

[Electric train]

A spokesperson for I Squared – which is headquartered in Miami – said the US private equity firm had committed €2bn to expand and electrify Arriva’s fleet after its takeover, with a significant portion of those funds expected to be spent on its UK^▸ (United Kingdom) operations.

So how's that going to work on the Chiltern Line and the unelectrified parts of the Cross-Country network?

Diesel electric traction instead of diesel mechanical    they are American after all