Italian State Railways (FS Italiane) and the Hellenic Republic Asset Development Fund (HRADF) signed on January 18 the sale and purchase agreement of Greek national train operator Trainose. In July 2016, FS Italiane was declared “preferred investor” by HRDAF which accepted the Eur 45 million 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 4 billion in 2026. Trainose acquisition follows the NXET ones, the UK company that operates the C2C line from London to Essex. We are proud of this successes which open the way for further achievements”, he added.
The closing is expected in the next weeks, following European Union approval.
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 Euro130 million and a net profit of Euro 2,7 million: since 2013 the company records positive economic results. Trainose has 670 employees, about 1.100 leased loco and coaches and manages almost 300 trains daily. The main route on which operates is Athens – Salonica.