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16 May 2023

Arriva Group concludes sale of its businesses in Denmark and Serbia to Mutares

Arriva Group concludes sale of its businesses in Denmark and Serbia to Mutares: Arriva Logo on white background

  • The transaction concluded 15 May 2023 with all employees transferred over to Mutares SE & Co. KGaA
  • All Arriva businesses and employees in Denmark and Serbia are now part of Mutares
  • The transaction is part of Arriva Group’s forward-looking strategy to operate a tighter portfolio and remain competitive for the long-term

Tuesday 16 May, London.  Arriva Group is pleased to announce that it has concluded the sale of its businesses in Denmark and Serbia, to Mutares SE & Co. KGaA - an international financial investor.  The sale is part of Arriva Group’s strategy to focus on its core markets in the UK and Mainland Europe.

The sale agreement was signed in September 2022 and in addition to Denmark and Serbia, included the sale of Arriva’s Poland bus business (the Polish rail business will remain part of the Arriva Group).  The companies have concluded the transaction for Denmark and Serbia, with the Poland bus sales process expected to conclude at the end of this month. 

A decision to refocus the Arriva Group portfolio was taken in 2020/21 following a strategic review of the business, carried out in partnership with Arriva’s shareholder Deutsche Bahn, and is part of the company’s forward-looking strategy to maintain a strong and competitive business for the long-term.

Today’s 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 Lisbon, Portugal to Dan Group which concluded in December 2022.

About Arriva

Arriva is a leading provider of passenger transport across Europe, employing around 38,000 people and delivering around 1.5 billion passenger journeys across 10 European countries. We are part of Deutsche Bahn (DB), one of the world’s leading passenger and logistics companies. With buses, trains, coaches, trams, waterbuses, car and bike-­­­sharing systems, as well as on-demand transport solutions, Arriva proudly connects people and communities safely, reliably and sustainably, delivering these services in a better way, every day. The activities of Arriva are divided into four lines of business: UK Bus, UK Trains, The Netherlands and Mainland Europe.  Arriva has operations in the Czech Republic, Croatia, , Hungary, Italy, the Netherlands, Poland, Slovakia, Slovenia, Spain and the United Kingdom.  For further information:

About Mutares

Mutares SE & Co. KGaA, Munich (, as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Paris, Stockholm, Vienna and Warsaw, 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 stabilisation process. For the financial year 2023, consolidated revenues of EUR 4.8 billion to EUR 5.4 billion are expected. Based on this, consolidated revenues are to be expanded to approx. EUR 7 billion by 2025. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. Accordingly, a net income in the holding company in the range of EUR 125 million to EUR 150 million is expected for the financial year 2025. The Management Board and Supervisory Board together hold more than one third of all Mutares shares with voting rights. The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650).

Contact information

Camilla Wrey

Arriva Logo on white background: Arriva Logo on white background

Arriva Logo on white background

Arriva Serbia: Arriva Serbia

Arriva Serbia

Arriva Denmark: Arriva Denmark

Arriva Denmark