February 5, 2018 / 7:23 PM / 10 months ago

Infrastructure fund GIP makes offer to buy Italian railway group Italo

MILAN, Feb 5 (Reuters) - Global Infrastructure Partners (GIP) has presented an offer to buy Italian railway group Italo, two sources close to the matter said.

One source said the infrastructure fund offered 1.9 billion euros ($2.4 billion) for the whole railway firm, excluding debt. The source added Italo would hold a board meeting on Tuesday to discuss both the bid and a planned listing on the Milan bourse.

GIP was not immediately available for comment.

Italo, which runs high-speed trains in Italy, planned to offer up to 40 percent of capital in an initial public offering (IPO) in Milan by the end of this month.

$1 = 0.8057 euros Reporting by Paola Arosio; Writing by Francesca Landini; Editing by Edmund Blair

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