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National Express completes c2c sale to Trenitalia

13 February 2017 07:27

National Express Group says the transaction for Trenitalia to acquire the c2c rail franchise completed on Feb. 10, with that company assuming immediate responsibility for operations.

Completion of the deal was triggered after the Department for Transport granted final consent to proceed.

Total consideration for the franchise was £72.6m, resulting in a small net profit for National Express.

In addition, Trenitalia's parent company, FS Italiane, paid £35m to settle an existing intercompany liability due from the franchise at the date of sale.

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