April 26, 2018 / 3:05 PM / 2 years ago

Some Italo shareholders re-invest in railway group after takeover

MILAN (Reuters) - Italian railway group Italo said several of its shareholders re-invested in the company after it was taken over by Global Infrastructure Partners by subscribing a share issue for 150 million euros ($182 million), equal to a stake of 7.74 percent.

In February, Italo shareholders accepted a 1.98 billion euro takeover offer presented by U.S.-based GIP and scrapped plans for listing the company on the Milan bourse.

The closing of the deal was signed on Thursday.

Italo added in a statement that Luca Cordero di Montezemolo and Flavio Cattaneo were confirmed as the company’s chairman and CEO, respectively. Both are among the shareholders who decided to re-invest in Italo through the capital increase.

($1 = 0.8256 euros)

Reporting by Agnieszka Flak, editing by Giulia Segreti

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