Hellenic Republic Asset Development Fund (HRADF) on Wednesday signed an agreement to sell 100 pct of TRAINOSE to Ferrovie dello Stato Italiane S.p.A. for 45 million euros.

The agreement was signed by HRADF chief executive Antonis Leousis and Ferrovie dello Stato Italiane Group CEO Renat Mazzoncini. The signing of the agreement was made possible after the Audit Council approved the transaction agreement on Tuesday. The agreement needs approval by European authorities with pending issue a 700-mln-euro debt of TRAINOSE to Hellenic Railways (OSE).

HRADF CEO said that Ferrovie dello Stato Italiane Group is taking over a great commitment: to strengthen and develop TRAINOSE with the know-how and the experience it has, creating a significant provider of railway services.