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Deutsche Bahn May Use IPO Cash for Environment Work

July 2008.


Deutsche Bahn AG may use proceeds from its passenger and freight division's initial public offering for noise abatement and other environmental-protection projects.

Deutsche Bahn and Germany's transport and finance ministries plan to split cash from the IPO three ways, the German newspaper cited Mehdorn as saying in an interview. In addition to a "wish list'' that includes environment work, Deutsche Bahn will focus investments on the 20 busiest stations, which serve 50 percent of its passengers, Bllomberg reports referring to Die Welt citing Chief Executive Officer Hartmut Mehdorn.

The Berlin-based train operator is in talks with government officials on how much of the state's proceeds will be invested in the railway network. The Transport Ministry may also want to allocate IPO money on highway or airport projects, Mehdorn said.

German lawmakers approved the sale of a 24.9 percent stake in the railway's newly formed DB Mobility Logistics AG passenger-and freight-train unit on May 30. The railway hired Deutsche Bank AG and Morgan Stanley to manage a share sale as early as the end of this year.



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