The MSC Group's acquisition of approximately 50% of Italo is official.
The binding agreement, reached with Global Infrastructure Partners, aims to “establish a long-term strategic partnership for the future development of Italo.” The remaining 50% of Italo will continue to be owned by GIP, with joint governance with MSC, alongside entities of the Allianz Group, funds managed by Allianz Capital Partners, and other co-investors.
Aponte’s group is expanding its portfolio
The Geneva-based transport giant, founded by 83-year-old Gianluigi Aponte, is expanding its portfolio, which already includes cargo shipping companies, cruise ships, ferry companies, port terminals, maritime and travel agencies, tour operators, technology and cybersecurity centers, and logistics companies. The Mediterranean Shipping Company Holding has a global workforce of some 180,000 and posted over €86 billion in consolidated revenues last year, with a profit of €36.2 billion.
A long-standing commitment
Diego Aponte, group president of MSC Mediterranean Shipping Company, said,
“This agreement demonstrates our long-standing commitment to Italy and support for its high-speed passenger rail transport. We strongly believe in Italo's potential to further boost rail connectivity across Italy and the national tourism market. The agreement also reflects our Group's objective which is to develop sustainable modes of transport for both passengers and goods, aligning with Italy's efforts to enhance its infrastructure network through new projects outlined in the PNRR to extend high-speed rail services.”
“This is Europe’s leading intermodal group”
Bayo Ogunlesi, president and CEO of Global Infrastructure Partners, added, “We remain committed to providing high-quality service to passengers, and benefits for the Italian economy. We are pleased that MSC shares our vision for Italo's future, as high-speed rail transport is fundamental to achieving emissions reduction objectives and aligns with GIP's energy transition and decarbonization strategies.”
Luca Cordero di Montezemolo, president of Italo, highlighted three key points regarding the operation: “The acquisition of the majority of Italo Spa by MSC is a source of satisfaction and pride, bringing growth and development. This agreement marks the birth of Europe’s leading intermodal group, offering a truly integrated mobility service for trains, ships, and buses. I am pleased that GIP, along with Allianz and other investors, ensures stability and continuity, reaffirming the commitment of key figures like CEO La Rocca.”
The completion of the transaction is subject to the customary conditions, including obtaining regulatory and competition approvals in relevant jurisdictions.
