Arriva Group, a British multinational public transport company, has concluded the sale of its businesses in Denmark and Serbia, to Mutares SE & Co. KGaA (Mutares), an international financial investor, as part of its strategy to focus on the UK and mainland Europe markets.
The businesses generate reported revenues of around €350m (£304.7m) and employ around 2,50 people across the two countries. Both businesses offer urban, regional and commercial bus services.
The initial agreement was signed in September 2022 and includes the sale of Arriva’s Poland bus business, with the Polish rail business due to remain part of the Arriva Group.
The companies have concluded the transaction for Denmark and Serbia, with the transaction involving the Poland bus business expected to conclude at the end of this month [May 2023].
The decision to redirect strategic priorities was made in 2020/21 following a review of Arriva Group, carried out in partnership with its shareholder Deutsche Bahn.
What’s more, the transaction follows the sale of Arriva’s rail and bus business in Sweden to VR Group, which was completed in July 2022, and of Arriva’s bus business in Portugal to Dan Group, which concluded in December 2022.