Banks bid for £2bn Arriva deal
Sunday 07 February 2010
SNCF, the French national rail operator, will move closer to a £5bn-turnover merger with Arriva, the British Ftse 250 transport group, with the appointment of deal advisers this month.
Several investment banks, including Lazard, BNP Paribas and JP Morgan, are expected to pitch for roles. Arriva, which confirmed last month that it was in merger talks with the transport arm of SNCF subsidiary Keolis, is usually advised by NM Rothschild and Deutsche.
If the whole of Keolis were transferred to Arriva, the combined group would have sales of more than £5bn and a strong geographic reach in Europe. The groups are of similar size, so the move could double Arriva's market capitalisation from nearly £1bn. Arriva's confirmation statement said that talks were "preliminary", so the appointment of advisers suggests that negotiations are becoming more substantial.
Arriva shares closed at 491.1p on Friday, up 1.1p on start of day's trading. The Sunderland-based company employs more than 44,000 people in 12 European countries.
- 1 Morgan Freeman on the riot-focused coverage of the Baltimore protests: 'F**k the media'
- 2 The man who filmed the Freddie Gray video has been arrested at gunpoint
- 4 Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
- 5 Length of pregnancy can vary by up to five weeks, scientists discover
Boston Marathon runner's search for mystery man she kissed ends with letter from his wife
Saudi Arabia's King Salman sacks senior aide for 'slapping' a journalist behind him live on TV
Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
Italian police 'reveal' what Jesus looked like as a young boy
Florida couple forced to register as sex offenders for having sex on public beach
In defence of liberal democracy
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
Andy McSmith's Sketch: Feisty audience is the real star of an enlightening show
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...