(19 Oct 2023, 10:29 am)Adrian wrote I'm not convinced. Same firm that were after First Group last year.

These private equity firms tend to not do things for the greater good of the public. We often talk about 'operators' being at the whim of their shareholders, but these firms are on another level. They'll want a return at all costs, so I think we'll see some severe asset stripping.

I'd be a bit more optimistic. 

Realistically, given they also went after First, I think it's clear they want to invest in a public transport company and the opportunity with Arriva was probably appealing given how desperate DB seemed to be to sell. There isn't much left at Arriva to strip, I'd be massively doubtful of them being able to sell parts off individually for more than what they paid for them. 

As far as I can see majority of their investment has been in infrastructure, which from what I understand is much more suited to longer term, consistent returns. Selling parts of Arriva off to make a quick buck doesn't fit that at all.