July 06, 2016

FS submits only bid for Trainose privatisation

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THE Hellenic Republic Asset Development Fund (HRADF) announced on July 6 that Italian State Railways (FS) has submitted the only binding bid for the sale of 100% of the share capital in Greek national train operator Trainose.

Russian Railways (RZD) and Greek construction company GEK-Terna submitted expressions of interest in the privatisation of Trainose in April but ultimately dropped out.

RZD said in a statement that it decided not to bid because the financial information made available would not allow it to adequately assess the company's current position and future potential.

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