March 27, 2019 / 5:20 PM / 5 months ago

Deutsche Bahn to explore sale, listing of Arriva unit

FRANKFURT, March 27 (Reuters) - German railway operator Deutsche Bahn said on Wednesday it will explore a sale or public listing of its British unit Arriva, adding this would enable the group to lower debt and free up cash for growth investments.

Arriva, which employs 53,000 across Europe, generated sales of 5.44 billion euros ($6.1 billion) last year. Deutsche Bahn said management has been tasked with exploring a sale of up to 100 percent of Arriva to one or several investors or an initial public offering. ($1 = 0.8877 euros) (Reporting by Christoph Steitz; Editing by Susan Fenton)

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