ASTALDI: CLOSING ON THE SALE OF 36.7% STAKE IN M5 TO FS

The transaction value is equal to EUR 64.5 million.

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Ferrovie dello Stato Italiane S.p.A. has acquired 36.7% stake (equity and shareholder loan) held by Astaldi in M5 S.p.A., Concessionaire of Line 5 of the Milan Metro, valued at EUR 64.5 million.

The closing took place at the end of the planned authorisation process, as well as upon the outcome of the assessment by the Italian Competition Authority.

Astaldi will continue to hold a 2% stake in M5, as a commitment to support the development of its activities. The shares held by other shareholders remain unchanged: Ansaldo STS 24.6%, ATM 20%, Alstom 9.4% and Hitachi Rail Italy 7.6%.

«FS Italiane’s entry among the shareholders in Metro 5 marks another step toward the creation of an integrated infrastructures and services system aiming at improving public transport also in large urban areas» said Mr. Renato Mazzoncini, CEO and General Manager of FS Italiane. «In line with the 2017-2026 Industrial Plan, we want to promote an integrated mobility also through the design, construction and management of new underground lines. For this reason, FS Italiane will provide its technical know-how and will dialogue with stakeholders, in Milan as well as in other cities».

«We are pleased to announce the sale of our stake in M5 to FS Italiane, a  sale that follows the sales of A4 Holding in Italy and SCMS and Pacific Hydro Chacayes in Chile», comments Mr. Paolo Astaldi, Chairman of Astaldi. «We are also assessing, with extreme care, the offers received for the sale of other assets in concession. The implementation of our Strategic Plan continues successfully which, in addition to the program of assets disposal, forecasts growth targets supported by the repositioning of the Group's activities towards lower risk markets and  better quality of earnings».

The acquisition of 36.7% stake in M5 marks another step forward in carrying out the Industrial Plan, presented on 28 September 2016, with regard to the integrated mobility pillar.

FS has redesigned its strategy to seize, as an integrated mobility company, the opportunities generated by the mass transport systems policies defined by the Ministry of Infrastructure and Transport, in order to pursue all available synergies in transport infrastructures.

The development of large systems of integrated mobility – train, subway, bus, car/scooter/bicycle sharing – that make easier a door to door strategy by using only public transport system is the driver to boost the competitiveness of major cities and, consequently, of the entire country in a global economy.

FS Italiane has acquired the stake in M5 to meet the abovementioned objective. The Lilla line extension projects to Monza and Settimo Milanese – a milestone in Milan's metropolitan mobility – will benefit from this move.

The Lilla line (line 5) of the Milan Metro links Bignami Parco Nord station to San Siro Stadio station, along a route extending for about 13 kilometers, with 19 stations and a light transport system connected with Milan’s other underground lines.

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Last updated: Jun 09 2017