Portugal sells cargo rail firm to MSC, scraps smaller sale
23/07/2015 16:28
LISBON, July 23 (Reuters) - MSC Rail, a unit of global
shipping giant Mediterranean Shipping Company, won the
privatisation tender for the cargo division of Portugal's
railway firm CP with an offer of 53 million euros ($58.14
million), the government said on Thursday.
Most of that will be used to capitalise the indebted CP
Carga, and the winner will also lease locomotives and railway
cars to CP, State Secretary for Transport, Sergio Monteiro,
said.
Also vying for CP Carga were Portuguese holding company
Cofihold and private equity firms Springwater Capital of
Switzerland and locally-based Atena Equity Partners.
The government also decided to cancel the sale of
state-owned railway equipment maintenance firm EMEF due to a
probe of possible state aid to EMEF launched by European
authorities after a complaint by its competitor.
The government had received one binding bid for EMEF from
France's Alstom ALSO.PA . Local media said Canada's Bombardier
BBDb.TO had complained to Brussels about state aid to its
competitor EMEF. Monteiro would not name the plaintiff, but said
the complaint was a serious threat to EMEF's future.
In the past few years, Portugal has implemented a programme
of state property sell-offs agreed with its European and IMF
creditors under the 2011-2014 bailout. Most privatisations have
been successfully completed, far exceeding Lisbon's revenue
target.
($1 = 0.9116 euros)
(Reporting By Andrei Khalip, editing by William Hardy)
((andrei.khalip@thomsonreuters.com;)(351)(213-509-209; Reuters
Messaging: andrei.khalip.thomsonreuters.com@reuters.net))
Keywords: PORTUGAL RAILWAYS/PRIVATISATION