Takeover of Italo-NTV approved

Photo: Italo-NTV.
Photo: Italo-NTV.

The European Commission has approved the acquisition of Italo-NTV by US infrastructure investor Global Infrastructure Partners (GIP).

The transaction was first reported in February, 2018, when GIP made a €1.94 billion bid for 100 per cent of the train operating company, which is Italy’s first privately-owned high-speed rail operator.

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The EU’s Commission concluded that the proposed acquisition would raise no competition concerns because the companies are not active in the same market or in vertically related markets.

Based on a statement released in February, the transaction is expected to close in the second quarter of 2018.

Italo connects 19 stations in 14 Italian cities and is the second largest operator in Italy.

Read more: Italian freight operator launches new service using converted high-speed trains