JP Morgan has negotiated its first mergers and acquisitions deal for Deutsche Bahn, the German rail operator, and could be in line to follow up with other transactions.

The supervisory board of Deutsche Bahn has granted permission for the company to take over Stinnes, a logistics group 65.4% owned by E.ON, the German utility. The deal marks the first time JP Morgan has given Deutsche Bahn M&A advice, and could prove invaluable as the German rail group is expected to sell off the chemical and steel distribution units of Stinnes and may want further advice.