Milestone for the merger: Arriva shareholders approve DB takeover bid
Grube: “This paves the way for DB passenger transport on a European scale”
Berlin/Durham, Today the shareholders of Arriva plc voted in favour of Deutsche Bahn’s offer for the company. Subject to approval by the competent antitrust authorities, completion of the transaction is scheduled for end of August 2010. The intention is for Arriva to be delisted from the London Stock Exchange at that time and continue as an independent, wholly owned subsidiary of DB UK Holding Limited.
“This means we have reached a major milestone on the road to the merger,” said Dr. Rüdiger Grube, Chairman of the Management Board and CEO of Deutsche Bahn. "With the successful bus and rail services operated by Arriva in twelve European countries, Deutsche Bahn will enter a new dimension of passenger transport.”
After the takeover, the Arriva brand is to be retained outside Germany. DB is looking forward to close cooperation with the existing management of Arriva.
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