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Deutsche Bahn and Miami-based infrastructure investor I Squared Capital have signed an agreement for the sale of the German rail operator's international transport business Arriva Group, the companies said on Thursday. The transaction is expected to complete in 2024, subject to the customary closing conditions, including the approval of the Deutsche Bahn's supervisory board and the German transport ministry, they said in a statement. Citigroup advised Deutsche Bahn, and I Squared was advised by Morgan Stanley and UBS.

BERLIN (Reuters) -Deutsche Bahn has agreed a deal to sell its international transport business Arriva Group to Miami-based infrastructure investor I

Deutsche Bahn is selling its foreign subsidiary Arriva. All remaining parts of the company will be sold in full to U.S. infrastructure investor I Squared Capital. The transaction is expected to close in the course of 2024. According to media reports, the investor, which specializes in infrastructure projects, is paying around 1.6 billion euros for Arriva, Deutsche Bahn did not initially comment on the amount. It had taken over Arriva in 2010, including debt, for around 2.7 billion euros.

Train strikes could last another six months as union members back further action.

Arriva Nederland sold to US venture capital group