Deutsche Bahn and its owner, the German government, have reached an agreement allowing the national rail operator to keep the proceeds from the planned partial privatization of foreign transport company Arriva and logistics unit Schenker, Handelsblatt has learned.
The deal ends a dispute that was blocking the sale and had led to the cancellation of a special supervisory board meeting on the matter in early February. That meeting will now take place in April or May, company and government sources told Handelsblatt.
Deutsche Bahn, which is restructuring to fix chronic inefficiencies, plans to sell up to 40 percent of Arriva through an initial public offering on the London Stock Exchange in the second quarter of 2017. The IPO of Schenker is to follow a year later on the Frankfurt Stock Exchange. Both flotations could raise up to €4.5 billion, or $5 billion.