German company Deutsche Bahn has bought UK train and bus operator Arriva in a deal worth £1.59bn.
As well as running Chiltern Railways and rail freight services in the UK, Deutsche Bahn also operate Germany's national rail services.
Arriva is the third biggest transport group in the UK and operates in 12 European countries including Arriva Trains Wales.
The £1.59bn deal is aimed at creating one of Europe's biggest rail and bus transport groups, with Deutsche Bahn planning to expand further into the international market.
Shareholders at Arriva are now being asked to give their approval for the deal, although the takeover of the Sunderland-based company has been on the cards for months.