Three Bidders Eye Trainose
Tuesday, 17 September 2013
Three bidders are interested in acquiring 100% of Greece's railway network operator Trainose, Reuters reported, quoting the country’s privatisation agency.
The bidders are French train operator SNCF, Romania's Grampet Group and Greek building group GEK Terna in cooperation with Russian Railways RZD, a source close to the talks told Reuters, speaking on condition of anonymity.
The Greek government hopes to raise 200 million euro in the privatisation deal.
Trainose operates all cargo and passenger routes on 2,500 km of railways over 500 routes, according to the company's website. The railway network, including track and other infrastructure, is owned by the Railway Organization of Greece.
Since late 2009, Trainose has been restructured with 1.4 billion euro in government funding, which has been spent on scrapping loss-making routes and cutting nearly half the company’s staff.