Trainose Only Bidder for Greece’s Rolling Stock Maintenance Company

Greece’s national passenger and freight train operator Trainose submitted a binding offer on Tuesday, for the acquisition of 100 percent of shares in the Hellenic Company for Rolling Stock Maintenance SA (EESSTY).

Trainose was the only bidder despite previous interest expressed by Siemens, Alstom and Scoda Transportation.

Greece’s privatization agency known as TAIPED had set a March 6 deadline for all expressions of interest in EESSTY, which is currently state owned.

Privatization authorities are scheduled on March 15, to proceed with the evaluation of Trainose’s tender documents. Once the process is complete and in line with the terms, the deal is expected to be signed in a month’s time.

The agreement is set to be finalized by autumn, including payment and transfer of shares.

Italian state railway group Ferrovie dello Stato (FS) Italiane purchased Trainose last year for a sum of 45 million euros.