Abellio's sale of 40% of its Greater Anglia rail franchise to Japanese firm Mitsui has been completed after the deal was approved by the Department of Transport (DfT).
Abellio re-secured the franchise in August 2016, having first operated it from February 2012.
It said it will continue to have a majority stake in the business and be in overall control.
The franchise agreement will see £1.4bn in investment over the next nine years, with the introduction of a completely new fleet and a commitment to cut average journey times by 10%.
Abellio managing director Dominic Booth said: ‘We are delighted to have reached agreement with Mitsui, fulfilling our long standing objective of running the franchise as a 60:40 joint venture.
‘With the introduction of Mitsui’s knowledge and experience, we look forward to delivering significant improvements for Greater Anglia’s customers, including through the introduction of a brand new fleet.’
A spokesperson for the DfT said: ‘This was a commercial decision for Abellio. The Government approved this partial sale once both parties satisfied us that passengers would benefit from it.’
The RMT union criticised the deal when it was announced in January, claiming that Britain's rail network was being sold off like a ‘dodgy car boot sale’.
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