Infrastructure company Globalvia acquires 24% of Irio from Air Nostrum

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Global Via has acquired 24% of the shares of railway operator Irio which were in the hands of Operador Ferroviário de Levante (OFL), a company owned by partners of Valencian regional airline Air Nostrum. Following this operation, Air Nostrum reduced its stake to 31% and Trenitalia, the Italian public high-speed operator belonging to the Italian national railway company Ferrovie dello Stato Italiano, is the main shareholder of the company with 45%.

Mobility infrastructure company, which has all the administrative authorities required to formalize Iryo. their entry into the capital ofThe U.S. did not disclose the economic figures distributed, although analysts value the entire company at 200 million euros, so the operation would be estimated at around 50 million.

After the accession of Glovalvia, the largest shareholder of Irio would be the Italian state, although the majority of the capital would be Spanish with 55%. In this way, all operators competing in the high-speed rail market would be controlled by public companies.: Ave and Avelo de Renfe; Ouigo from French SNCF and Irio from Trenitalia.

Air Nostrum last year began its search for a strategic partner to strengthen the financial strength of Irio, which was awarded the second of three packages offered by Adif in the Spanish high-speed rail liberalization process in November 2019 . Globalvia has received the support of three of its shareholders to land Irio’s capital and has been chosen thanks to its financial position, its strategic interest in high-speed rail and its long-term sustainability in the project, according to the statement made public. . company on Friday.

year end premiere

Iryo will start its high-speed service on the Madrid-Barcelona line on November 25, In mid-December, the Madrid–Valencia connection will be launched, while the Madrid deployment with Andalusia will not arrive until March 2023, followed by the Madrid–Alicante route, which will not be done until June of next year.

Globalvia was established in 2007 to unite all concession assets of the FCC and Caza Madrid under a single conglomerate, which was controlled in 2016 by three pension funds from Canada, the Netherlands and the United Kingdom. By tying up with Moventia, but without getting any avenues, the company has tried to take some routes in the competition process opened by Adif in 2019. In this process initiated after the liberalization of rail passenger transport in Spain, the Andalusian company EcoRail and a consortium made up of Talgo, Globalia and Trilantic Fund also competed.

Iryo’s president, Carlos Bertomeu, explained in a note that Globalvia’s entry into shareholding gives the project financial strength, a business for long-term sustainability as a shareholder of the Spanish high-speed network’s first private operator. and a recognized experience and solvency. With this agreement, he said, the original plan with which Air Nostrum’s partners designed the company is complete.

Globalvia’s CEO, Javier Pérez-Fortia, explained that the operation reinforces its commitment to new forms of mobility in the countries where it operates and added that, after the pandemic, high-speed rail is the key to a sustainable mobility. would be an essential element. , in which they hope to move forward with a long-term business with their partners.

For his part, Trenitalia’s CEO, Luigi Coradi, assures that the operation “reaffirms the importance of the project to bring as many people as possible closer to the train, in compliance with the objectives of the European Union in terms of sustainability”. .



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