DfT approves Abellio/Matsui deal

Abellio completed the sale of 40% of its Greater Anglia franchise to Mitsui & Co Ltd on March 21, after the Department for Transport gave final approval for the deal to proceed.

The deal was first announced on January 17 ( RAIL 819), and fulfils Abellio’s objective of running the franchise as a 60:40 joint venture. Abellio will be in overall control, with Mitsui having a presence on the board. This is the first time any Japanese company has taken a stake in a British train operating company.

Abellio retained the Greater Anglia franchise in a nine-year deal last August ( RAIL 807). It will spend £1.4 billion on new trains that will be introduced in 2019-21, but must pay a £3.7 billion premium over the nine-year deal.