FS Italiane completes acquisition of Greek rail operator Trainose
FS Italiane has completed the previously announced acquisition of Greece's railway operator Trainose under a €45m deal.
The transaction was initially announced in January and successfully concluded following the necessary procedures and authorisations, including approval from the European Union.
FS Italiane managing director and CEO Renato Mazzoncini said: “Today's closing is another important step of the international growth of the FS Group, as anticipated in the 2017-2026 Business Plan.
“The acquisition of Trainose is an opportunity of growth and development for the Greek railways, which from now on can rely on the know-how and experience of the FS Italiane Group.
Trainose specialises in the provision of freight, passenger and logistics services at the suburban, regional, national and international levels.
The company served nearly 15.6 million people last year, including 10.1 million passengers in the suburban area and a further 5.5 million in the regional area.
It also transported approximately 1.1 million tonnes of freight during the same period, and generated a total revenue of €120m with a profit of €3.3m.
The company operates nearly 1,160 locomotives and trains via leasing.
The FS Italiane Group carries approximately 830 million passengers and 50 million tonnes of freight annually on a rail network spanning 16,700km.
Mazzoncini added: “We are evolving into a major European mobility player and we are already one of the leading operators in the rail, passenger and freight market, as well as in local public transport.
“We are first in Italy and Greece, second in Germany, and we also operate with subsidiaries in Great Britain, France and the Netherlands.”