Liner giant MSC Mediterranean Shipping Company (MSC) is making another move into rail with a deal to buy into Italian high-speed operator Italo.
The shipowner said it has taken a 50% stake in the rail company from Global Infrastructure Partners (GIP) and certain co-investors for an undisclosed amount.
GIP will have joint governance with Soren Toft-led MSC through a retained 50% interest with Allianz Group and other investors.
Italo is one of Europe’s leading private high-speed rail operators.
Since its launch in 2012, the company has grown to operate a fleet of 51 energy-efficient electric trains, connecting 51 cities across Italy and serving over 20m passengers per year.
“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,” said Bayo Ogunlesi, GIP's chief executive.
MSC’s group president Diego Aponte added: “This agreement demonstrates our long-standing commitment to Italy and support for exceptional high-speed passenger rail transport in Italy.”
Aponte said his company strongly believes in the potential of Italo to further strengthen rail connectivity across Italy, as well as boosting the tourism market.
“Furthermore, today’s agreement also reflects our group’s goal of further developing sustainable modes of transport, for both passengers and cargo,” he added.
Italo is headquartered in Rome. In May it acquired Itabus, an Italian road transport company with a fleet composed of 100 sustainable buses.
Spanish revival
At the end of September, MSC was chosen to resurrect the fortunes of Spanish national railways company Renfe’s freight operation.
The board of Spain’s state-owned rail group approved a move to select MSC subsidiary Medlog as a strategic partner, El Pais reported.
The deal must now be ratified by the country’s Council of Ministers. A collaboration model and the business plan will then be decided.
Medlog was chosen after more than a year of talks with more than 30 private companies, including rivals AP Moller-Maersk and CMA CGM.
Freight unit Renfe Mercancias aims to become a comprehensive logistics operator, integrating its services into those of MSC.
