UK National Express Group “National Express” has reached an in principle agreement for Trenitalia to acquire the c2c franchise.The total consideration is expected to be almost £70 million (EUR 80.5 million), resulting in a small net profit for National Express.
Following initial partnership discussions regarding future franchise bidding, Trenitalia UK made an offer that National Express’ board believes represents the best, and a fair, deal for its shareholders. The acquisition is the first step in Trenitalia’s plans to expand in the UK rail passenger market, in line with the internationalisation plans of the entire FS Italiane Group.
Trenitalia will retain c2c’s existing management and staff and build on its successful track record of delivering value for passengers. In addition to delivering the existing plans for the franchise, Trenitalia has also committed to invest for further improvements for all c2c’s customers based on innovative technologies at the heart of its strategy for the franchise globally.
c2c operates services between Fenchurch Street and Shoeburyness, serving 26 stations in East London and South Essex.
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