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Archive
2008-04-30 LOR-001
LOROL
Deutsche Bahn acquires LOROL
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Press release
LOROL
Deutsche Bahn acquires LOROL
date 30 April 2008
source LOROL
type Press release
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On 1 April it was announced that Laing Rail’s 50% holding in LOROL was acquired by Deutsche Bahn, the German rail operator, had been approved by Transport for London, the Department for Transport and the Supervisory Board of Deutsche Bahn AG. This means that LOROL, along with it’s sister companies Chiltern Railways and the Wrexham, Shropshire and Marylebone Railway Company, is now officially part of the Deutsche Bahn group, specifically part of DB Regio, Deutsche Bahns regional transport division. The investment in Laing Rail is DB Regio’s first major step outside of Germany.
With MTR of Hong Kong and DB Regio as parent companies LOROL now have the backing of two internationally respected rail organisations, representing an exciting opportunity for LOROL as it strives to regenerate London Overground.
With revenues of €25 billion, Deutsche Bahn is the largest German railway enterprise as well as one of the largest transport corporations in the world serving almost two billion passengers each year.
Railnews Archive ::: 2008-04-30 LOR-001
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