Deutsche Bahn 'sniffing around' Hungary's MÁV Cargo - extended

Deals

The acquisition of the UK's largest rail freight operator and purchase of a stake in a Spanish logistics company have taken Deutsche Bahn (DB), Europe's biggest freight operator, closer to filling in the 'blank spots' in its pan-European network, Harmut Mehdorn, its chief executive has said.

However, speaking as he confirmed details of the purchase of the UK's EWS and a 55% stake in Spain's Transfesa, Hartmut Mehdorn said there remained further areas where Deutsche Bahn was not offering services and he wished to tackle them. He confirmed the company was 'sniffing around' the freight division of Hungary's MÁV, which is due to be privatized before the end of this year. The purchase of EWS will give DB, which remains state-owned, 70% of the UK's rail freight market, with activities ranging from hauling coal and shipping containers to pulling the Queen's royal train. The company turned over about €770 million ($1.04 billion) last year, according to DB.

 
MÁV Cargo, the spun-off freight division announced on Friday that it has received a new operating license from the Hungarian Railways Office that is valid throughout the European Economic Area.

The Railways Office granted MÁV Cargo the new type of license after conducting an examination in accordance with standard EU procedure of the personal and professional qualifications of MÁV Cargo management and of the company's financial standing and ability to cover possible damages, among other things, the company said. (railway-market.pl)


 

 

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