The Hellenic Republic Asset Development Fund (HRADF) accepted today the EUR 45 million offer for the sale of 100% stake in TRAINOSE SA. and declared Ferrovie Dello Stato Italiane SpA as the preferred investor.
“The HRADF completes a process that began three years ago. The privatization of TRAINOSE secures not only the viability of TRAINOSE, but more importantly, its further development. Furthermore, this is an important milestone that lays the foundations for the successful closure of the European Commission state aid dossier on the debt that TRAINOSE owes to OSE, which amounts to more than 700 million euro”, informs HRADF.
“This transaction is in line with the industrial plan which will be presented in September and that is focused, inter alia, on international development. It is also an opportunity of growth and improvement for the Greek railways which will be able to take advantage of the FS’ know how and experience gained in 110 year of history”, said Renato Mazzoncini, FS Group CEO.
The formal TRAINOSE acquisition will be finalized in the coming weeks.