Vienna Local Railways Seek Buyer for Cargo Subsidiary

They will "immediately start an open, transparent, and unconditional bidding process," said the WLB parent company Wiener Stadtwerke on Monday regarding the planned sale of the cargo subsidiary.

Wiener Lokalbahnen aim to complete sale of cargo subsidiary by 2025

"The background of this decision is the fact that international freight transport is not among the core tasks of the public service mandate of the City of Vienna and the Wiener Stadtwerke group, as well as the current situation in the rail logistics market," said the Stadtwerke. The goal of the sales process is to "find a buyer in the European Economic Area, Switzerland, and the United Kingdom who is willing to take over all shares in the WLC." The sale is to be completed by the end of the year at the latest. According to its own information, the WLC conducts freight transport across Europe and transports over 5 million tons of goods annually. The company is based in the Port of Vienna, with an additional branch in Germany.

(APA/Red)

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