Ferrovie Dello Stato Italiane S.p.A. on Thursday signed an agreement to buy 100 pct of TrainOSE for 45 million euros, ending a four-year tender process and opening a new page in the Greek railways' future.

The privatization of TrainOSE was accompanied by a decision to file a case of state support to OSE worth 692 million euros.

Ferrovie Dello Stato Italiane S.p.A. is the third largest railway company in Europe and has agreed to enhance and grow TrainOSE using its know-how and expertise to create a significant railway services company.

The signing of the agreement took place on Corfu in the framework of the 1st Greece-Italy Intergovernmental Conference, by the head of Hellenic Republic Asset Development Fund (HRADF) Lila Tsitsogiannopoulou and the CEO of Ferrovie Dello Stato Italiane Group, Renato Mazzoncini.