FS Italiane acquires Trainose
ATHENS -- The signing for the acquisition by FS Italiane of TRAINOSE, the Greek rail transport company, took place Wednesday morning, executed by Renato Mazzoncini, FS’ CEO and General Manager, and by Antonis Leousis, CEO of the Hellenic Republic Asset Development Fund (HRADF).
In July 2016, FS Italiane has been declared “preferred investor” by HRADF which had accepted the Euro 45million offer.
“The acquisition of Trainose is an opportunity of growth and improvement both for FS Italiane, which carries on its international development, and for the Greek railways which will be able to take advantage of the FS’ know-how and experience,” said Renato Mazzoncini, FS Group CEO.
This transaction is perfectly in line with the 2017-2026 Industrial Plan which envisages Europe as the target market for FS, aiming at fourfold revenues from abroad businesses reaching over four billion in 2026.
Trainose acquisition follows the NXET ones, the UK company that operates the C2C line from London to Essex. The closing is expected in the next weeks, following the green light from European Union.
Trainose is the leading Greek railway undertaking. It provides passengers and freight transport services both at national, regional and international level, along with logistic services.
In 2015, it carried around 16 million people, recorded revenues for Euro 130 million and a net profit of Euro 2,7 million. Since 2013, the company records positive economic results.
Trainose has 670 employees and manages almost 300 trains daily. The main route on which it operates is Athens – Salonica.
The CEO of HRADF, Mr. Anthony Leousis, having thanked all those who cooperated with the Fund for the completion of the tender process that today led to the privatization of TRAINOSE after almost four years, stated: "Ferrovie dello Stato Italiane Group is making an important commitment: to strengthen and develop TRAINOSE with its expertise and experience, thus creating a major provider of railway services".
For more information and updates please refer to the Hellenic Republic Asset Development Fund's website (www.hradf.com).