UPDATE 1-Arriva agrees sale of rental unit for 129 mln stg

Newswire

(Adds detail) LONDON, Jan 31 (Reuters) - British train and bus operator Arriva Plc has agreed the sale of its car and commercial vehicle rental division to Northgate Plc for around 129 million pounds ($228 million), Arriva said on Tuesday. Arriva, which hopes to expand its passenger businesses through acquisitions in Europe, said it would use proceeds from the sale to repay debt and strengthen its balance sheet. "Our strategic goal remains recognition as the number one transport services ...

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