Statement re: Media speculation around German Rail
National Express Rail in advanced talks with five German Public Transport Authorities to realign North Rhine-Westphalia rail contracts.
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Mobico notes the recent press speculation in Germany and confirms that its subsidiary National Express Rail GmbH is in the advanced stages of agreeing a comprehensive agreement in principle with five German Public Transport Authorities ("PTAs") to realign contract terms for rail transport services in North Rhine-Westphalia and adjacent regions.
The agreement in principle requires the approval of each of the relevant governing bodies of the PTAs and would be subject to entering into formal legally binding agreements between the relevant parties. Such an agreement is expected to deliver a sustainable business going forward.
There can be no certainty all approvals will be received, and any agreement will be reached.
A further announcement will be made as appropriate.
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