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Many interested parties: departure for Arriva? Track inspectors examine sales plans

2019-09-18T07:39:01.874Z

TIME ONLINE | News, backgrounds and debates



Berlin (dpa) - The railway subsidiary DB Arriva is to change hands and bring billions for the railway in Germany. The supervisory board of the German course wants to look at this Wednesday possible purchase offers.

According to reports, there are several interested parties. If a complete sale does not work, Arriva is to go public, at first with a minority share, later completely.

The Federal Court of Auditors recommended that the railway also think about selling the international logistics subsidiary Schenker - which the Board of Directors has so far rejected. The Supervisory Board also discusses how a new bond could raise money for more quality and capacity in German rail traffic.

The railway alone has a financial gap of three billion euros this year. In the next ten years, 86 billion euros will flow into the German rail network, significantly more than before. Of that, 24 billion are coming from the railway. However, the Group has already reached its debt ceiling, including leasing liabilities of around 25 billion euros.

In a new report, the Federal Court of Audit called for greater control over the use of federal funds for the railways. There is a danger that the planned new performance and financing agreement between the federal government and the railways "preserves systemic deficiencies" for a decade, the report says. He was before the German Press Agency. At first the «Spiegel» reported about it.

The economic use of federal grants was "not hedged". The Ministry of Transport has not yet carried out prescribed success checks on the "achievement of objectives, effectiveness and cost-effectiveness" of the agreement. The Court of Auditors had already criticized a report last December that lacked effective control and clear priorities.

The German railway has to work off an immense restoration backlog to maintain the rail network, because many tracks, points and bridges are dilapidated. The federal government and the railways had agreed in principle on weeks ago to a new performance and financing agreement (LuFV). This provides considerably more federal funds than before. The Bundestag still has to agree to the agreement.

"The proposed contract will bind significant federal funds for at least three legislative periods," said the Court of Auditors. The examiners consider it necessary to take budgetary and contractual precautions - these should give the Bundestag the opportunity to effectively demand necessary improvements from the Ministry of Transport and Deutsche Bahn before and during the contract period.

Topic in the supervisory board of the railway are also progress reports on the difficult construction project Stuttgart 21. Around 8.2 billion euros were last estimated and they are probably needed. This is also due to rising construction costs. The station should be finished at the end of 2025. At the start of construction in 2010, the cost limit for the underground station and the connecting lines had been 4.5 billion euros.

Also expected is a test report from the company EY, the questionable consultancy contracts with ex-rail managers from the years 2010 to 2018 under the magnifying glass. They examined the question of whether the consideration by the contracting parties was appropriate. As could be heard in supervisory board circles, the Group is examining the possibility of asking former members of the management board to pay. Also warnings or reprimands for responsible persons were last in the discussion.

On Wednesday, the Supervisory Board also wants to discuss the group strategy "Strong Rail" as well as the Group's digital and IT strategy.

Bahn Press Releases

Source: zeit

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