MSC set to acquire 50% of Italo
International shipping line MSC has announced a binding agreement to acquire a 50% stake in Italian high-speed operator Italo Nuovo Trasporto Viaggiatori (Italo) from its parent company Global Infrastructure Partners (GIP).
The financial details of the deal have not been disclosed. As reported by Reuters, the agreement is set to give Italo an enterprise value of €4.2bn ($4.4bn), which equates to over double the amount that GIP acquired the train operator for back in 2018.
Hitachi merger with Thales GTS receives EU clearance
Hitachi Rail has finally secured clearance from the EU for its acquisition of Thales’ Ground Transportation Systems (GTS) business, after refiling its merger notice in September. The EU’s approval follows the UK’s Competition and Markets Authority giving the go-ahead earlier in October. Hitachi will now divest its mainline signalling businesses in France, Germany, and the UK, a decision made to appease fears that the acquisition of Thales GTS could limit competition in the industry.
DB sells Arriva Group to I Squared Capital
Deutsche Bahn (DB), Germany’s national rail provider, has agreed to sell its international subsidiary Arriva Group to US-based infrastructure asset management company I Squared Capital. Arriva operates bus and train services in ten markets across Europe, with the UK as its primary business location. Although financial information was not revealed by DB, market experts said the sale is likely to value Arriva Group at $1.68bn.
Amergin extends portfolio with huge rolling stock acquisition
Amergin Rail has announced its purchase of PNC Bank’s railcar portfolio of at least 6,000 railcar units. Amergin Rail is a division of investment manager Amergin Asset Management (AAM). AAM will take over as the manager for the 6,000 units that are currently on lease to various rail operators across the USA.