LONDON (Alliance News) - Go-Ahead Group PLC on Friday said it was "disappointed" not to have won the contract to run the London Overground service in the capital.
The contract has been awarded to Arriva Rail London, owned by Germany's Deutsche Bahn AG. It will run the service for seven-and-a-half years, with an option to extend for another two years, with a value of GBP1.5 billion.
Arriva will take over the line in November and will support the modernisation of the service, including new trains to be introduced in 2018.
Go-Ahead had been among the bidders shortlisted to run the service in a joint venture with Keolis (UK) Ltd, the UK arm of French transport firm Keolis.
Go-Ahead said it would seek feedback from Transport for London as part of its evaluation and review of its unsuccessful bid.
Shares in Go-Ahead were down 0.4% to 2,631.00 pence early Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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