Ferrovie launched the sale of its real estate assets

21 December, Milano Finanza

Ferrovie dello Stato plans to disinvest its non-strategic assets, starting from real estate. The goal was communicated to all the companies of the group. The strategy is aligned with the objective of the Italian Government of selling public properties for over 1.2 billion euro in the next three years, 950 million of which in 2019.

For this purpose, the group guided by Gianfranco Battisti will launch the sale to provide its shareholder the Treasury with a significant dividend. In April 2018, the group, at the time led by Ceo Renato Mazzoncini, paid to the Ministry of Treasury returns for 150 million euro, half of the 300 million reported the previous year. Through Ferservizi, Fs itself and the subsidiaries Rfi and Fs Sistemi Urbani, the terms to submit the offers for the real estate assets have been postponed from 20th July 2018 to February. On the overall, there are 62 projects concerning 114 houses and 22 portfolios.

There is also another operation concerning 18 residential assets such as apartments and custom houses and 17 portfolios including buildings, stations, urban areas, land and warehouses in Milan, Acireale, Venice and Bologna. This operation might provide returns for about 15 million euro.

Meanwhile, the new management continues working on the business plan. In the next five years, the company plans investments for 6 billion on the regional transport network and initiatives to favour commuters. However, the company will lose at least 600 million in the next three years due to the significant investment cuts for 4.2 billion as planned by the Government. Between 2022 and 2024, 200 million euro will be destined to Ferrovie dello Stato to implement the already planned projects.

Source: Milano Finanza

Translator: Cristina Ambrosi

Email

Linkedin

Twitter

Google