Italo, sale to GIP closed

Rome - The closing of the sale of Italo Nuovo Trasporto Viaggiatori (Italo) shares to Global Infrastructure Partners III Funds was signed in execution of the sale contract signed on 11 February 2018. Luca Cordero di Montezemolo was confirmed as the company’s chairman

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Rome - The closing of the sale of Italo Nuovo Trasporto Viaggiatori (Italo) shares to Global Infrastructure Partners III Funds (Gip) was signed in execution of the sale contract signed on 11 February 2018. This comes from an Italo-NTV press release in which it is specified that the Italian shareholders Luca Cordero di Montezemolo, Flavio Cattaneo, Giovanni Punzo, Isabella Seragnoli, Alberto Bombassei and Fondo Peninsula have reinvested in the vehicle company acquiring Italo, GIP Neptune, subscribing to a capital increase for a total of €150 million, or 7.74% of the share capital.

Following these operations, the full shareholders’ meeting of Italo was held, which appointed the new Board of Directors, composed of Montezemolo (Chairman), Cattaneo, Gianbattista La Rocca, Michael John McGhee, Philip Marc Iley, Andrew Harvey Gillespie-Smith and Mark Lawrence Levitt. The newly appointed Board of Directors met after the Shareholders’ Meeting, confirming Montezemolo as the Company’s Chairman and appointing Cattaneo Chief Executive Officer.

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