FS Logistix, the state-owned rail freight and logistics business of Italian State Railways (FS), has signed an agreement to acquire 30% of the share capital of major private freight operator Italian Railway Company (CFI). Closure of the transaction, the value of which was not disclosed, is subject to obtaining regulatory approval.
The agreement was signed on April 22 with Italian infrastructure fund manager F2i and FHP Group. Controlled by F2i, FHP holds a majority stake in CFI and operates 10 port terminals and four intermodal terminals in Italy. Its rail activities amount to 6 million train-km a year, operated with a fleet of 50 locomotives and over 1000 wagons.
FS Logistix is responsible for defining the strategy and operational approach of its seven subsidiaries which include rail freight operator Mercitalia. FS says that the acquisition of CFI forms part of its strategy to improve the efficiency of rail-based logistics services, in line with European Union (EU) objectives for shifting more freight from road to rail, improving energy efficiency and reducing CO₂ emissions.
“Our entry into CFI’s share capital and the concrete actions set out in the agreement will allow us to expand our operational capacity and improve service efficiency,” say FS Logistix CEO, Sabrina De Filippis. “It represents a key element of our growth strategy in the intermodal logistics sector.”
“The entry of FS Logistix into CFI is very positive news for the entire rail freight sector and for Mercitalia Rail,” says Mercitalia Rail CEO, Silvio Damagini. “It will enable more effective service planning for intermodal development.”
