Heavyweight partners from Skadden Arps, Slate Meagher & Flom, Freshfields Bruckhaus Deringer and Latham Watkins are advising on the sale of bus operator Arriva to a U.S. private equity firm.

Germany’s national transport entity, Deutsche Bahn, which took over Arriva back in 2010, is selling the Sunderland-based operators for a reported £1.4 billion to U.S. private equity firm I Squared.