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2017-03-21 ABB-001
Abellio

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Abellio completes sale of 40% share in Greater Anglia to Mitsui


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Abellio

Abellio completes sale of 40% share in Greater Anglia to Mitsui
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date
21 March 2017
source Abellio
type Press release



Japanese company and Abellio will work together to deliver ambitious programme of improvements

Further to the announcement on 17 January 2017, Abellio has today (21 March 2017) completed the sale of 40% of the Greater Anglia rail franchise to Mitsui & Co., Ltd. (“Mitsui”). Completion was triggered after the Department for Transport gave final approval for the deal to proceed. This fulfils Abellio’s long-standing objective of running the franchise in a 60:40 joint venture.

Abellio will continue to have a majority stake in the business and be in overall control. Mitsui will have a presence on the board and bring its experience of operating in numerous different sectors to the franchise. It is the first time any Japanese company has taken a stake in a British train operating company.

Abellio retained the Greater Anglia franchise following a competitive tender in August 2016, having first operated it from February 2012. Under the terms of the franchise agreement, Greater Anglia will see £1.4bn in investment over the next nine years, including the introduction of a completely new fleet and a commitment to cut average journey times by 10%.

Dominic Booth, Managing Director of Abellio said:

“We are delighted to have completed this deal with Mitsui, fulfilling our long-standing objective of running the franchise as a 60:40 joint venture. Mitsui’s knowledge and experience will help us deliver a truly transformational rail experience for Greater Anglia’s passengers.”

-Ends-

Notes

For further information please contact:

George Robinson at Abellio: george.robinson@abellio.com / 07769 880205

About Abellio Group

Abellio is the international passenger transport subsidiary of the Dutch national railway company, Nederlandse Spoorwegen. Everyday our people provide rail, bus and tram services to 1.7m customers across the UK, Germany and in the Netherlands. In the UK we operate buses through Abellio London & Surrey, as well as ScotRail and Greater Anglia train services, and Merseyrail in a joint venture with Serco. In Germany we operate Abellio Deutschland, serving communities in North Rhine Westfalia, Saxony, Lower Saxony, Saxony-Anhalt, Hesse and Thuringia. In the Netherlands we operate with Qbuzz, bus services in Groningen, Drenthe and Utrecht. Our role in transport extends beyond the journey from a-to-b. With our international heritage and our policy of sharing best practice, not just amongst ourselves, but across the wider transport industry, we provide thought leadership and truly innovative ideas which make a positive contribution to the communities we serve. For more information on Abellio visit www.abellio.com.

About Mitsui

Mitsui is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 138 offices in 65 countries as of January, 2017. Utilizing our global operating locations, network and information resources, we are multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Integrated Transportation Systems, Chemicals, Energy, Food Resources, Food Products & Services, Consumer Services, IT & Communication, Corporate Development Business.. Mitsui is actively taking on challenges for global business innovation around the world. For more information, visit http://www.mitsui.com.

About Greater Anglia

The new Greater Anglia franchise began operating on 16 October 2016. It provides intercity, commuter and rural services throughout the region including the Stansted Express service. Greater Anglia is responsible for almost 2,800 employees, operates 1,300 train services per day and serves 132 stations.


Railhub Archive ::: 2017-03-21 ABB-001





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