Friday, November 4, 2016

Deutsche Bahn: Bahn chief pit stops plans for IPO – TIME ONLINE

Rüdiger Grube does not want to bring the railway daughters Arriva and Schenker on the stock exchange. The Board will, to the Supervisory Board at the meeting on 14. December tell, “we can’t recommend on the Basis of the current assessment of an IPO,” said Chairman of the Board and the pit, the news Agency dpa.

the reason for the decision of Brexit, according to pit. In front of the exit of Britain from the European Union (EU) wanted to bring the train 45 percent of its British subsidiary Arriva on the stock exchange. Together with the partial sale of the international logistics division Schenker, the additional 4.5 billion euros should contribute for a large-scale investment program.

“With the Brexit, the world has changed, unfortunately, fundamentally,” said pit. Due to the devaluation of the British pound, the train would throw the initial public offerings of “money out the window, and such an Act would be foolish.” The Supervisory Board requested from the Board in may, a concept for a capital contribution of third parties in the subsidiaries. Now he’ll refer to in the December position, and an IPO is not recommend, announced a pit.

A role in the decision-making also plays a cash injection in the amount of 2.4 billion Euro for the train, announced by the Federal government in September. “A door that we have not expected”, said pit at the time.

The state company is to receive one billion euros for their capital. Also on its annual dividend by train the state wants to waive the next four years. Thus, a further 350 million euros for the rail to be free. About the plans of the budget Committee of the Bundestag will decide in the next week.

The railway is not in need of additional money, in spite of investments of EUR 55 billion in the next five years, debts run out of control. Of the total, the Federal government is 35 billion euros. The debt layers of the web by the end of 2015 at 17.5 billion Euro. “About 20 billion euros are here, the upper limit,” said pit.

The IPOs of Arriva and Schenker would not be comparable with that, which failed in the autumn of 2008 the financial market turmoil around the Bankruptcy of Lehman Brothers. The time should be silver plated up to 24.9 per cent of the fields of passenger and freight traffic. This was established specifically to the sub-group DB Mobility Logistics, the railway has now dissolved.


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