September 28 (SeeNews) - Germany-based private equity investor Mutares SE & Co. KGaA said it has signed an agreement to acquire the Danish, Polish Bus and Serbian business operations of public transport company Arriva Group.
The operations collectively generate around 400 million euro ($382.99 million) in revenues, Mutares said in a press release posted on its website on Tuesday.
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The closing of the transaction is expected towards the end of 2022, subject to customary closing conditions.
Arriva is a British multinational public transport company headquartered in Sunderland, England and owned by Germany's state-owned Deutsche Bahn Group.
Mutares SE & Co. KGaA acquires medium-sized companies in special situations, based in Europe, which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. With offices in ten European cities, the company expects, by 2025, consolidated revenues to be over 7 billion euro, with profits of 125 million euro to 150 million euro.
($ = 1.04441 euro)