Mediterranean Shipping Company (MSC) has agreed to buy a majority ownership in Nuovo Trasporto Viaggiatori S.p.A (Italo) from Global Infrastructure Partners (GIP), an independent infrastructure investor.
The remaining approximately 50 per cent stake in Italo will be held by GIP, which will have shared control with MSC, as well as Allianz Group businesses and funds managed by Allianz Capital Partners and other co-investors.
Italo is an open-access train operating business in Italy that specialises in high-speed rail transit.
The company has expanded to run a fleet of 51 energy-efficient electric trains linking 51 locations around Italy and carrying over 20 million passengers per year since its inception in 2012.
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Diego Aponte, Group President of MSC, said: “This agreement demonstrates our long-standing commitment to Italy and support for exceptional high-speed passenger rail transport in Italy.
“We strongly believe in the potential of Italo to further strengthen rail connectivity across Italy but also the Italian tourism market. Furthermore, today’s agreement also reflects our group’s goal of further developing sustainable modes of transport, for both passengers and cargo.
“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.”
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Bayo Ogunlesi, Global Infrastructure Partners’ Chairman and Chief Executive Officer, stated: “We are excited to partner with MSC, with whom we have a strong and productive strategic relationship, to continue to support Italo’s future growth.
“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.”
