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Deutsche Bahn gets green light for takeover of EWS
Page 10
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The German railway company claims the acquisition will increase the amount of freight moved by rail in the UK. Chris Tindall reports.
RAIL FREIGHT OPERATOR EWS is in the final stages of being acquired by state-owned German railway company Deutsche Bahn (DB), and it claims this will boost the amount of freight moved by rail in Britain.
The deal is due to be completed later this month now the European Commission (EC) has approved it under competition law, subject to conditions. One national newspaper has suggested DB paid about €500m (f.336m).
Discussions between the two companies began in the spring before the acquisition was agreed in July. The EC had been concerned that DB might not have the same incentives to pursue rail freight opportunities in the UK, but the German company has committed itself to following EWS' expansion plans over the next five years.
An EWS spokesman says: "It's the creation of a stronger European rail freight network.This will he the biggest development in rail freight in Britain since it was privatised 12 years ago.
"There's no change at all in our business strategy; it's business as usual. We are here to grow rail freight."
DB says the move will allow DB Logistics to extend its central corridors in Western Europe and create a one-stop shop.
Hartmut Mehdorn, CEO of DB. says: "The transport and logistics industry is booming. Only companies that can offer their own network and consistently high standards will be able to succeed in that market. The climate-friendly rail mode still is and will remain our core business."
FOR MORE ON THIS AND BELATED SUBJECTS
www.roadtransport.com/cm