Rail company completes sale of 40% of franchisepublished at 12:31 Greenwich Mean Time 21 March 2017
Rail company Abellio has completed the sale of 40% of the Greater Anglia rail franchise to the Japanese company Mitsui.
The two companies first entered into a joint venture to bid for the West Midlands rail franchise in 2016.
Abellio will continue to have a majority stake in the business and will be in overall control.
The company first operated the franchise from February 2012, and re-won it in August last year.
Under the terms of the franchise agreement, it plans to spend £1.4bn on more than 1,000 new carriages, free wi-fi, station improvements and has a commitment to cut average journey times by 10%.