Rail firm Deutsche Bahn examines sale of Arriva subsidiary

MarketsAssociated Press

German rail company Deutsche Bahn says it is examining the sale of its Britain-based subsidiary Arriva.

Deutsche Bahn said in a statement Wednesday that its supervisory board has asked management to pursue "various options" for a sale.

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Arriva had a turnover of 5.44 billion euros ($6.13 billion) last year and employs about 53,000 people across Europe.

A decision on whether to go ahead with a sale of the wholly-owned subsidiary is expected in September.

Deutsche Bahn, which itself is owned by the German state, said a sale would help limit its debts and give Arriva room to grow.

Based in the northeast England city of Sunderland, Arriva operates train and bus services in 14 European countries.