Rome, 26 April 2018. The closing of the sale of Italo shares to GIP - Global Infrastructure Partners III funds (GIP) – has been signed today following the binding agreement of 11 February 2018.
At the same time, the shareholders MDP Holding Uno S.r.l., MDP Holding Tre S.r.l., Partind Tre S.r.l., MAIS S.p.A., PII1 S.à.r.l. and Nuova Fourb S.r.l. have reinvested in the special purpose entity, GIP Neptune S.p.A., subscribing a capital increase for a total amount of euro € 150 million, corresponding to 7,74.% of the share capital.
The transaction was followed by a Shareholders’ meeting that appointed the Board of Directors formed by Luca Cordero di Montezemolo (Chairman) , Flavio Cattaneo, Gianbattista La Rocca, Michael McGhee, Philip Iley, Andrew Gillespie-Smith and Mark Levitt.
After the meeting, the Board decided to confirm Luca Cordero di Montezemolo as Chairman and appointed Flavio Cattaneo as CEO.
Italo – Nuovo Trasporto Viaggiatori S.p.A. with its fleet of 25 Alstom AGV 575 and 17 Alstom EVO trains - 12 of which will come into service by this summer, whilst the other 5 will be delivered in 2019 – closed 2017 with 12.8 million travellers (vs 11.1 million in 2016), a net result of € 33.8 million (vs € 32.7 million in 2016), a 64% increase in EBITDA Adjusted (€ 155.7 million in 2017 vs € 95.0 million in 2016) and a 24.8% increase in revenues (€ 454.9 million in 2017 vs € 364.4 million in 2016).
Global Infrastracture Partners is a leading global, independent infrastructure investor with a focus on three main sectors, namely energy, transportation and water/waste. Founded in 2006, GIP combines specialist industry expertise and industrial best practice and operational management.It manages 43 billion dollars, has a portfolio of 13 Companies and an extremely diversified base of investors, including some of the largest sovereign and pension funds globally.