Italy’s Ferrovie dello Stato Italiane (FS Italiane) has signed a €64.5m agreement to acquire 36.7% of Astaldi’s stake in M5, concessionaire of Line 5 of the Milan Metro.
Astaldi will retain a 2% stake in M5 and ensures support in developing the activities under its responsibility.
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FS Italiane CEO and general manager As Renato Mazzoncini said: “FS Italiane’s entry among the shareholders in Metro 5 marks another step forward in carrying out the business plan presented on the 28 September 2016.
“This transaction responds to the FS Group’s strategy of moving forward from the 'Metropolitana d’Italia', high-speed and high-capacity network project to a new large-scale project of an integrated services system and infrastructures aiming at improving public transport as well as integrated mobility, also in large urban areas.”
Milan Metro’s Line 5 links Bignami Parco Nord station to San Siro Stadio station, along a 13km route, with 19 stations and a light transport system connected to with Milan’s underground lines.
Astaldi chairman Paolo Astaldi said: “We’re moving forward with the programme of disposal of the assets; and this transaction, which follows the sale of A4 concluded in September, is another step in our plan’s implementation.
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By GlobalData“The sale of the share held by Astaldi in M5 to FS Italiane took place after a careful selection process on the offers received. We are also assessing, with extreme care, the offers received on other assets in concession.”
The transaction is expected to close at the end of the planned authorisation process, and also based on the outcome of the assessment by the Italian Competition Authority.
Image: Line 5 connects Bignami Parco Nord station to San Siro Stadio station, along a 13km route. Photo: © Astaldi SpA.
