I Squared Said in Exclusive Talks to Buy Deutsche Bahn’s Arriva

I Squared Capital is in exclusive talks to acquire Deutsche Bahn AG’s Arriva transport business, which operates London’s iconic red double-decker buses, people with knowledge of the matter said.

The Miami-based infrastructure investment firm could finalize terms and financing as early as September, according to the people, who asked not to be identified discussing confidential information. The deal could value Arriva at about €1.6 billion ($1.7 billion), the people said.

A spokesperson for Deutsche Bahn noted that it has already said it wants to sell Arriva by the end of 2024 and the process is ongoing. The person declined ...