Greece concludes sale of TRAINOSE to Italian railways

Jan 18, 2017

ATHENS (Reuters) – Greece on Wednesday concluded the sale of its rail company TRAINOSE to Italy’s state railways Ferrovie dello Stato for 45 million euros ($48.1 million), the country’s privatization agency said.

Athens had been trying to sell the asset since 2013 but government changes and political hurdles held up the sale.

Without the sale, TRAINOSE would have had to return more than 700 million euros in state aid to the European Union, forcing it to shut.

Privatizations are a condition of Greece’s latest international bailout but its protracted economic crisis has sapped investor interest.

We remind our readers that publication of articles on our site does not mean that we agree with what is written. Our policy is to publish anything which we consider of interest, so as to assist our readers  in forming their opinions. Sometimes we even publish articles with which we totally disagree, since we believe it is important for our readers to be informed on as wide a spectrum of views as possible.