GIP in talks over MSC investment in train operator Italo - papers (updated)
15/10/2022 13:08
(Adds La Stampa newspaper)
MILAN, Oct 15 (Reuters) - U.S.-based Global
Infrastructure Partners (GIP) is in exploratory talks with
Italian shipping group MSC for a possible investment in GIP's
railway operator Italo, two Italian newspapers reported on
Saturday.
The infrastructure fund bought Italo, which runs the popular
Rome-Milan route among others, for around 2 billion euros
($1.94 billion) back in 2018 but talks of a possible sale of the
high-speed rail operator have emerged in recent months.
An MSC spokesperson said the company did not comment on
media speculation, while GIP did not immediately reply to an
email request for comment.
La Stampa newspaper, citing "financial sources", said GIP
was considering the creation of an investment vehicle in which
the fund could reinvest half of the resources while the other
half would be borne by MSC, controlled by the Aponte family.
The deal would value Italo at 4 billion euros excluding
debt, the paper said.
Il Sole 24 Ore also reported news of the talks.
A potential deal could see Italo expand in the freight
transport sector, but the feasibility and growth potential of
such an endeavour was still being analysed, the papers added.
Sources have previously told Reuters that GIP was interested
in selling Italo, but the plan had been put on hold because of
market turbulence on the back of the Ukraine war and the
government change in Italy following elections on Sept. 25.
($1 = 1.0289 euros)
(Reporting by Agnieszka Flak; editing by Clelia Oziel)
((agnieszka.flak@thomsonreuters.com; +39 06 8030 7754;))