Only one bidder submits proposal for Greek rail privatization

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Only one bidder submits proposal for Greek rail privatization

Ferrovie Dello Stato Italiane S.p.A. the Italian government-owned holding company that manages infrastructure and services on the Italian rail network, has been the only bidder in the process for for the sale of 100% stake in TRAINOSE SA. and EESSTY SA. (ROSCO).

The company has bid for the majority interest in TRAINOSE, while none binding offers for EESSTY (ROSCO) were submitted. 

As we reported in April, Greece's Hellenic Republic Asset Development Fund (HRADF) announced that three investment groups expressed their initial interest for the sale of 100% stake of TRAINOSE S.A.

The three investment groups are:

  • Ferrovie dello Stato Italiane S.p.A.
  • Open Joint-Stock Company “Russian Railways”

In February 2016 HRADF decided the re-launching of the international tender for the sale of a 100% stake in TRAINOSE, with the first tender process being launched in July 2013. 

TRAINOSE operates as the sole provider of rail services in Greece. TRAINOSE was established in 2005, as a subsidiary of OSE S.A.. In December 2008, the ownership of TRAINOSE was transferred to the Hellenic Republic. The company is engaged in the provision of traction services for the rail transportation of passengers and freight, the development, organization and exploitation of urban, suburban, regional, extra-urban and international railway transportation of passengers and freight, as well as bus transportation or combined transportation of passengers and freight and the provision of logistics services of any nature.

The financial advisors for this process are Investment Bank of Greece and Kantor Management Consultants, while law firms Hogan Lovells International LLP and M. & P. Bernitsas Law Offices are acting as legal counsels and Louis Berger S.A. as technical advisor.

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