UK: Trenitalia completes acquisition of c2c franchise

National Express Group has announced that the deal with Trenitalia to acquire the c2c rail franchise was completed on 10 February 2017, with Trenitalia assuming immediate responsibility for operations. The completion of the acquisition went into force after the Department for Transport granted final consent to proceed.
The total consideration for the franchise was £72.6 million (85.7 million euros), resulting in a small net profit for National Express. In addition, Trenitalia’s parent company, FS Italiane, paid £35 million (41.3 million euros) to settle an existing intercompany liability due from the franchise at the date of sale.

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