Netherlands-based rail technology company Strukton Rail is planning to expand its shareholdings in Italian rail contractor Construzioni Linee Ferroviarie (CLF) to 100% in a €32m deal.
Since 1998, Strukton has been a shareholder in CLF and increased its interest from 40% to 60% in 2013 through the acquisition of shares from co-shareholder Unieco.
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Under the deal, Strukton will acquire the remaining 40% stake in the company currently held by Unieco.
An agreed option as part of the transaction has now been taken up by Unieco and as a result, Strukton will own all of CLF.
The shares are due to be transferred to Strukton Rail by the end of June, following which it will be the full legal and economic owner of CLF.
The transaction will be completed by next June, while a bank guarantee for the full purchase price will be provided as security.
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By GlobalDataWith its subsidiaries, CLF has broad expertise and experience in all technical fields, from railway construction to electrification, signalling and telecommunications.
Last year, CLF generated turnover of €150m providing construction, renewal and maintenance services for heavy rail and light rail customers in Italy, Algeria, Bulgaria, Morocco, and Venezuela.
The company employs more than 600 staff covering a range of engineering disciplines, including civil engineering, trackwork, electrification, signaling and telecommunications.
The complete ownership of CLF fits well in Strukton’s aim to strengthen and expand its position as a full-service provider of rail systems and electrical systems for rolling stock in Europe.
Image: Strukton will own all of CLF. Photo: courtesy of Strukton.
