The Geneva-based container line MSC Mediterranean Shipping Company strikes a deal with infrastructure investor New York-based Global Infrastructure Partners to acquire a stake of nearly 50% in Italo – Nuovo Trasporto Viaggiatori (Italo), one of Europe’s leading private high-speed passenger rail operators.
Under the deal signed by the two partners the other approximately 50% interest in Italo will continue to be owned by MSC, which will have joint governance with GIP, and by Allianz Group entities and funds managed by Allianz Capital Partners, and other co-investors.
MSC major bought the stake from Global Infrastructure Partners through its third flagship infrastructure fund (GIP III).
Launched in 2012, Italo has grown to operate a fleet of 51 energy efficient electric trains, connecting 51 cities across Italy and serving over 20 million passengers per year.
“This agreement demonstrates our long-standing commitment to Italy and support for exceptional high-speed passenger rail transport in Italy,” said Diego Aponte, group president of MSC Mediterranean Shipping Company SA.
“This aligns with Italy’s efforts to enhance its infrastructure network through new projects outlined in the National Recovery and Resilience Plan (PNRR) to extend high-speed rail services to areas that currently lack access. We share a common vision with GIP and are proud to once again build on this strategic partnership.”
Bayo Ogunlesi, Global Infrastructure Partners’ chairman and chief executive, commented that “We remain committed to providing high-quality service to passengers and benefits to Italy’s economy. We are very pleased MSC shares our vision of Italo’s future, as high-speed rail transportation is critical to meeting net-zero targets and is aligned with GIP’s energy transition and decarbonisation strategies.”
The completion of the transaction is subject to the satisfaction of customary conditions including regulatory and competition clearances in relevant jurisdictions.
