It has been shareholder in CLF since 1998 and increased its interest from 40% to 60% in 2013 through the acquisition of shares from co-shareholder Unieco. An option agreed as part of the transaction has now been taken up by Unieco and as a result Strukton Rail will own all of CLF.
The shares will be transferred by the end of June 2016. Strukton Rail will pay €32m for the shares, which will be settled at the end of June 2017.
Rail company CLF and its subsidiaries have more than 600 members of staff and generated a turnover of about €150m in 2015 from operations across a range of areas, from construction to electrification, signalling and telecommunications. It works in Italy and other countries, including Algeria, Morocco, Venezuela and Bulgaria.
The expansion to full ownership of CLF fits with Strukton Rail’s strategy to strengthen and expand its position as a full-service provider of rail systems and electrical systems for rolling stock in Europe.
Got a story? Email news@theconstructionindex.co.uk
