FS Italiane buys Greece’s Trainose
Ferrovie Dello Stato Italiane S.p.A. the Italian government-owned holding company that manages infrastructure and services on the Italian rail network, has completed the acquisition of 100% stake in Greek TRAINOSE SA.
The sale and transfer of the stake was closed for a total consideration of €45 million (US$53.5 million).
The signing of the agreement was held in Corfu by the Chair of the HRADF’s BoD, Mrs. Lila Tsitsogiannopoulou, and the Chief Executive Officer of Ferrovie dello Stato Italiane Group, Mr. Renato Mazzoncini, during the Greece – Italy High-Level Cooperation Council proceedings.
HRADF completes a bidding process that began four years ago and opens up new page for TRAINOSE, as the privatization of the company has resulted in the closure of the European Commission’s State Aid dossier on TRAINOSE’s debt to OSE, amounting at €692 million.
TRAINOSE operates as the sole provider of rail services in Greece. TRAINOSE was established in 2005, as a subsidiary of OSE S.A.. In December 2008, the ownership of TRAINOSE was transferred to the Hellenic Republic. The company is engaged in the provision of traction services for the rail transportation of passengers and freight, the development, organization and exploitation of urban, suburban, regional, extra-urban and international railway transportation of passengers and freight, as well as bus transportation or combined transportation of passengers and freight and the provision of logistics services of any nature.
Ferrovie Dello Stato Italiane S.p.A. is the third largest railway company in Europe and assumes the responsibility to strengthen and develop TRAINOSE.
The financial advisors for this process are Investment Bank of Greece and Kantor Management Consultants, while law firms Hogan Lovells International LLP and M. & P. Bernitsas Law Offices are acting as legal counsels and Louis Berger S.A. as technical advisor.
As we reported, Ferrovie Dello Stato Italiane S.p.A. was the only bidder in the process for the sale of 100% stake in TRAINOSE SA. and EESSTY SA. (ROSCO) in July 2016.
Previously, HRADF had announced that Open Joint-Stock Company “Russian Railways” and GEK Terna expressed their initial interest for the sale
Country news
-
-
June 30, 2017
HRADF requests expressions of interest for DESFA
Hellenic Republic Asset Development Fund (HRADF) has invited interested parties to submit Expressions of Interest (EOI) to participate in an international public competitive bidding Tender Process for the acquisition of a 66% stake in the Hellenic Gas Transmission System Operator SA (DESFA)
Read more -
June 09, 2017
GMR Airports wins Crete’s airport concession
GMR Airports Limited, a subsidiary of GMR Infrastructure Ltd, has announced that it has been selected to Develop, Operate and Manage the New International Airport of Heraklion at Crete in partnership with Greek infrastructure major GEK Terna Group. GMR Airports Limited will be the designated Airport Operator in the consortium for this project.
Read more -
June 06, 2017
Offer for Athens international airport concession extension
Athens International Airports S.A. (AIA SA) has offered €600 million (US$675 million) for the 20-year extension of the Athens international airport concession agreement.
Read more -
April 28, 2017
HRADF seeking financial adviser for the sale of Athens Airport
Hellenic Republic Asset Development Fundlogo (HRADF), Greece’s privatization agency, has issued an invitation for expresion of interest seeking for financial advisors to provide services for the sale of its 30 percent stake in Athens International Airport S.A. (AIA), the company in charge of the Eleftherios Venizelos airport concession in Athens.
Read more -
April 27, 2017
Deutsch-French consortium wins Thessaloniki Port privatization
The consortium comprised of Deutsche Invest Equity Partners GmbH, Belterra Investments LTD and Terminal Link SAS has been awarded a 67 percent stake in the Thessaloniki Port Authority, after becoming the highest bidder with an offer of €231.9 million (US$251.8 million).
Read more
