Financial Press Releases


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Naples, 2 March 2017

The tender for the executive design and construction of the Naples-Cancello branch on the new Naples-Bari High Speed/High Capacity line has been awarded.

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London, 1 March 2017

First Trenitalia East Midlands Rail Limited, the joint venture between FirstGroup plc (‘FirstGroup’) and Trenitalia UK Limited (‘Trenitalia’), has today been shortlisted by the Department for Transport for the East Midlands rail franchise competition.  

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Trenitalia has completed the acquisition of Essex and London train operator c2c from National Express Group via its British subsidiary Trenitalia UK.

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The process of buying back the 40% holding owned by Archimede 1 (Save Group) was concluded with the return and transfer of the stock to FS Italiane.
 



Trenitalia UK Ltd, FS Italiane Group, and FirstGroup plc are pleased to announce that they will bid together for the East Midlands and West Coast Partnership rail franchise competitions announced by the British Department for Transport (DfT).

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Rome, 18th January 2017

It took place this morning in Athens, the signing for the acquisition by FS Italiane of TRAINOSE, the Greek rail transport company.

The agreement has been executed by Renato Mazzoncini –  FS’ CEO and General Manager – and by Antonis Leousis – CEO of the Hellenic Republic Development Asset Fund (HRDAF).

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Rome, 11th January 2017

Trenitalia enters the British railway market through its English London-based subsidiary Trenitalia UK.



“Concordato preventivo”: the BoD approves the beginning of the procedure to the Court of Bari.

 



Rome, 12 December 2016

Ferrovie dello Stato Italiane and Astaldi have announced they have signed an agreement for the sale of the investment held by Astaldi in M5 SpA, Concessionaire of Line 5 of the Milan Metro.

The transaction calls for the sale of a 36.7% stake (equity and shareholder loan) held by Astaldi in M5, valued at EUR 64.5 million. Astaldi will remain a shareholder with a 2% stake in M5, ensuring support in developing the activities under its responsibility.

The transaction’s closing will take place at the end of the planned authorisation process, as well as upon the outcome of the assessment by the Italian Competition Authority.
 



Green light from the Ministry of Infrastructure and Transport to the transfer ofFerrovie Sud-Est and Servizi Automobilistici Srl  to Ferrovie dello Stato Italiane S.p.A..



The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia.

*****



FS signed to buy-back the 40% of Centostazioni shares, a decisive step towards the realization of a “Smart Station” network



Fitch Ratings released the annual assessment of Ferrovie dello Stato Italiane credit profile affirming the Issuer Default Rating at ‘BBB+’.

The agency has changed the Outlook from Stable to Negative, mirroring the Outlook change on Italy’s national government occurred on 21st October, which the FS rating is closely related to being a government-related entity.

The agency has also disclosed the FS’s stand-alone assessment which is aligned with the Issuer Default Rating  at ‘BBB+’.

At the same time, Fitch has also affirmed FS's EUR4.5bn Euro medium-term note programme (EMTN) and related bond issues at 'BBB+'.
 

Official press release of Fitch where the whole rationale is reported



Ferrovie dello Stato Italiane (FS) submitted an expression of interest for the acquisition of 100% of EESSTY (ROSCO) S.A., the Greek company providing maintenance services to Trainose rolling stocks.



The new Industrial Plan confirms FS Group as the leading company for investments in Italy: 94 billion over a period of 10 years
An extended time horizon, needed for the large infrastructure projects planned but also for the deep transformation of FS, that is projected to become a global integrated mobility company.
 



The transactions have been realized with Cassa Depositi e Prestiti and Intesa Sanpaolo.



Integrated mobility, integrated logistics, integrated infrastructures, internationalization and digitalization. These are the five pillars of the new 2017-2026 Industrial Plan of Ferrovie dello Stato Italiane (FS) disclosed by the CEO of FS’ Group, Mr. Renato Mazzoncini at InnoTrans, the leading international trade fair for rail transport.

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During the Ambrosetti Forum in Cernobbio, Mr. Renato Mazzoncini, CEO of Ferrovie dello Stato Italiane (FS), has announced the release of the new FS Group Business Plan within September 2016. It will be a 10 years plan (5+5).

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FS Italiane’s Board of Directors, met under the Chairmanship of Ms. Gioia Maria Ghezzi, has reviewed and approved the half-year 2016 Financial Report at 30 June 2016.

During the first half of the current year, FS Italiane carried on its business by pursuing strategic goals with a gross operating profit of €1,005 million (+6%) with a net profit for the period equal to €286 million (€292 million at 30 June 2015).



Rome, 20 July 2016

The financial closing of the sale of 100% of GS Retail has been reached today.

FS Italiane and Eurostazioni transferred their shares to Alba Bidco, the newco set up by the consortium Antin Infrastructures, Icamap and Borletti Group. The consortium was awarded on 8 June the deal, having bid the best offer.



FS Italiane issued a Euro 50 million 15 years bond with a 1.65% fixed coupon through a private placement. It is the longest bond ever issued by FS under its EMTN Programme.



The Hellenic Republic Development Asset Fund (HRDAF) accepted the offer and declared FS as the “preferred investor” for the acquisition of TRAINOSE S.A., the Greek rail transport company.



Rome, July 7th 2016

FS Italiane announces that on the 5th and 6th of July 2016, there have been important developments on the transactions and agreements which the Group is undertaking on international markets.



Rome, July 4th 2016

The shareholders’ meeting approved the 2015 Annual Report of Ferrovie dello Stato Italiane S.p.A. as well as the Consolidated 2015 Annual Report of the FS Group. The Financial Statements document is available for downloading at the following link:

http://www.fsitaliane.it/cms-file/allegati/fsitaliane/Investor-relations/Financial_Report_2015.pdf



FS Italiane issued Euro 350 million 6 years floating rate notes, under the EMTN Programme listed on the Irish Stock Exchange.



Rome, 28th June 2016

It has been signed yesterday, at FS Italiane headquarter, the sale agreement on the whole equity of GS Retail between FS\Eurostazioni and Alba Bidco spa (Antin Ipamac Borletti), the consortium which has been awarded of the GS Retail sale tender process.

FS’ Chairwoman and CEO, Gioia Ghezzi and Renato Mazzoncini attended the signing along with Eurostazioni and the buyer representatives.



Rome, 8 June 2016

Antin Infrastructures in joint venture with Icamap and Borletti Group has bidden the best offer equal at Euro 953 million, including net financial position.



Rome, 30th May 2016

FS' Board of Directors approved the issue of one or more bonds, under the EMTN Programme listed on the Irish Stock Exchange, to be placed with institutional investors, for a maximum aggregate amount of 1.8 billion euro.



Rome, 16th May 2016

The Council of Ministers approved privatization criteria and terms of the partial disposal of the stake held by the Ministry of Economy and Finance in the equity of Ferrovie dello Stato Italiane S.p.A..

The Decree completed its legal process according to Law n. 481/1995, art. 1, c.2, started last 23rd November, acquiring the relevant opinions by the parliamentary committees.

Following the link to the official press release of the Council of Ministers (Italian only): http://www.governo.it/articolo/comunicato-stampa-del-consiglio-dei-ministri-n-117/4735



Today, the Board of Directors of Ferrovie dello Stato Italiane, chaired by Gioia Maria Ghezzi, examined and approved the Company's annual report that includes the Group's consolidated financial statements as at 31 December 2015.



Rome, 12th April 2016

Construction of two high-speed lines, development of a test center and staff training. These are the highlights of the framework cooperation agreement between FS Italiane and RAI (Iranian Railways). 



The CEO of Gruppo FS Italiane, Renato Mazzoncini, during an audit in Transport Commission of the Chamber of Deputies, has shown the guidelines for the near future of FS to Members of Parliament and to all of those that followed the live streaming.

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Rome, 16 March 2016

The Board of Directors of Grandi Stazioni, has approved the 2015 Annual Report of the company as well as the Consolidated 2015 Annual Report of Grandi Stazioni Group.



A new investment strategy on the Italian rail network which means more safety, more technology, timely and efficient transports, quality and comfort for travelers, especially commuters.
This is the link between the several measures contained in the 2015 update of the Contratto di Programma between the Ministry of Infrastructure and Transport (MIT) and Rete Ferroviaria Italiana, unveiled this morning by the Minister of Infrastructure and Transport Mr. Graziano Delrio, jointly to Mr. Renato Mazzoncini, CEO of Ferrovie dello Stato Italiane and Mr. Maurizio Gentile, CEO of Rete Ferroviaria Italiana.

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Ferrovie dello Stato Italiane sent today the information memorandum to the 17 groups of investors that submitted EoI.

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The unbundling of Rete Ferroviaria Italiana from Ferrovie dello Stato Italiane means to kill FS.

It has been said yesterday by Renato Mazzoncini, FS Group’s CEO, during an hearing at the Senate Committee on Public Works. 

“RFI, which purpose is developing and maintaining the railroad network, is the heart of FS and for this reason I do confirm what Minister Padoan told, namely, RFI has to remain integrated and it is not necessary for it to be spun off”, the top manager explained.

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The FS Group privatization process, as also proved by Poste, “must take all the time that is needed, even though we made a commitment to Europe to do it by 2016.”

This is what the Italian Minister of Infrastructure and Transport, Mr. Graziano Delrio, told today to the Senate Public Works Committee, by explaining that “the listing of this large industrial group must generate the capital that is needed to develop a sector that has huge potential.”

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The timing for the FS Group listing process “will depend upon its performance in terms of efficiency” and the DPCM approval “represents the formal starting point of FS share’s partial sale, whose deadline remains subject to market conditions and the company’s capability to be listed”. This is what the Italian Minister of Economy and Finance, Pier Carlo Padoan, told today to the Chamber of Deputies about the privatization of FS Italiane which “will take place through a public sale offering on the Milan Stock Exchange”.

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This is the purpose of the agreement signed today between Ferrovie dello Stato Italiane and the European Investment Bank.
 



Ferrovie dello Stato Italiane and Terna signed today the agreement for the transfer of RFI’s high-voltage electricity grid. The transaction is part of a more comprehensive reorganization of the Country’s strategic assets.
 



Standard & Poor’s released the annual assessment of Ferrovie dello Stato Italiane credit profile.

Standard & Poor’s affirms both FS Italiane “BBB-” Long-Term Corporate Credit Rating and the Stand Alone Credit Profile (SACP) at “bbb”.

The outlook remains Stable, reflecting that on Italy.



The new Board of Directors of Ferrovie dello Stato Italiane, held today under the chairmanship of Gioia Ghezzi, appointed Renato Mazzoncini as Chief Executive Officer and General Manager of the Company.



The Ministry of Economy and Finance, in agreement with the Ministry of Infrastructure and Transports, held today the meeting of Ferrovie dello Stato Italiane S.p.A. that, following the resignation of the former Board of Directors occurred on 26th November, appointed the new Board of Directors of FS Italiane

The members are:  Gioia Ghezzi (as Chairman), Daniela Carosio, Giuliano Frosini, Simonetta Giordani, Federico Lovadina, Renato Mazzoncini e Wanda Ternau.

The new BoDs will be in charge for the 2015-2017 period.

The shareholders’ meeting suggested the new BoDs to appoint Renato Mazzoncini as Chief Executive Officer with full operating powers.



The Board of Directors of Ferrovie dello Stato Italiane SpA resigns today.

The shareholders’ meeting for the appointment of a new BoDs will be summoned shortly.



The Council of Ministers, held today, has officially started the privatization process and the establishment of the terms of the partial sale of the stake held by the Ministry of Economy and Finance in the equity of Ferrovie dello Stato Italiane S.p.A..



The transaction has been realized with a “Raggruppamento Temporaneo d’Imprese” composed by BNL Gruppo BNP Paribas as “mandataria” (leading company), Banca Carige and UBI Banca.
The proceeds will fund new rolling stocks – both for regional and long-haul transport – and other FS Group investments.



Fitch Ratings has affirmed the FS Italiane “BBB+” Long-Term Issuer Default Rating and the “Stable” Outlook. 
The agency has also affirmed the EUR 4.5bn euro medium-term note Programme (EMTN) and the bond issues rating at “BBB+”.



The Ferrovie dello Stato Italiane’s SpA Board of Directors, chaired by Marcello Messori, approved the Group’s consolidated half-year financial report as at 30th June 2015.



Grandi Stazioni S.p.A.’s Board of Director, has approved the Company’s demerger project today.



Ferrovie dello Stato Italiane has appointed McKinsey & Company, leader, in a joint venture with Ernst & Young Financial Business Advisors Spa and The Brattle Group Limited Italian Branch, as industrial advisor for the privatization process.



The shareholders’ meeting, held today, has approved the 2014 Annual Report of Ferrovie dello Stato Italiane S.p.A. as well as the Consolidated 2014 Annual Report of the FS Group.



Ferrovie dello Stato Italiane’s Board of Directors, has unanimously approved the reorganisation of the Grandi Stazioni.



Ferrovie dello Stato Italiane S.p.A. is pleased to announce the successful signing today of its Euro 1.5 billion revolving credit facility.
 



Rome, 13 May 2015
Fitch Ratings released the annual assessment of Ferrovie dello Stato Italiane credit profile.
Fitch affirms the FS Italiane “BBB+” Long-Term Issuer Default Rating. The outlook remains Stable, reflecting the outlook on Italy.

Fitch says: «FS’ group profitability and indebtedness remain in line with Fitch’s base case scenario amid expectations that the partial privatization scheduled for 2016 will neither diminish its integration with the Italian public sector nor its key role in the national infrastructure development, implying high probability of extra-ordinary support from the national government in case of need.»

At the same time, the agency has affirmed the EUR 4.5bn EMTN Program and bond issues (ISIN XS1004118904 and XS0954248729) rating at “BBB+”.

Following the link to the official press release of Fitch where the whole rationale is reported:
https://www.fitchratings.com/creditdesk/press_releases/detail.cfm?pr_id=984573


 



In today's meeting the Board of Directors of Ferrovie dello Stato Italiane with Marcello Messori as chairman, examined and approved the Company's annual report that includes the Group's consolidated financial statements as at 31 December 2014.




FS' Board of Directors, in the meeting held on February 25th, approved the issue of one or more bonds, under the EMTN Programme listed on the Irish Stock Exchange, to be placed with institutional investors, for a maximum aggregate amount of 1.5 billion euro, in one or more tranches.



At the end of the selection process that involved both Italian and foreign financial institutions and law firms, the Ministry of Economy and Finance, also having acquired the opinion of the Privatisation Committee, announced it has identified Bank of America Merrill Lynch and Cleary Gottlieb Steen & Hamilton as, respectively, Financial Advisor and Legal Advisor of the Ministry for the privatisation process of the FS Group.
 



Standard & Poor's lowered the long-term corporate credit rating of Ferrovie dello Stato Italiane to 'BBB-' from 'BBB'. The outlook changes from negative to stable. The Agency also lowered the long-term rating on the FS’ EMTN Programme and on the two related issued notes, to 'BBB-' from 'BBB'.

The rating actions follow the downgrade of Republic of Italy on December 5th, which the FS rating is closely related to, being a government-related entity.

The assessment of FS’ stand-alone credit profile (SACP) remains 'bbb'.

The stable outlook on FS reflects that on the sovereign.



On November 5th, the italian Independent Transport Authority released the decision on the regulation of railway infrastructure access.



The Ministry of Economy and Finance (MEF) announced that the shareholders’ meeting of FS Italiane has been held today in order to take the proper decisions after the FS Group’s Chairman, Prof. Marcello Messori, waived many of his powers and duties assigned by the Board of Directors in May, with the exception of the coordination of internal audit activities.



The Board of Directors of Ferrovie dello Stato Italiane SpA approved both the Holding’s individual and the Group’s consolidated half-year accounts at June 30th 2014, prepared in accordance with the international accounting standards IAS/IFRS.



Standard & Poor’s released the annual assessment of Ferrovie dello Stato Italiane credit profile.

S&P affirms the FS Italiane “BBB” long-term corporate credit rating
Besides, its Stand Alone Credit Profile (SACP) has been revised upward to “bbb” from “bbb-“, due to the improvement of FS Italiane’s “financial risk profile”.



The new Board of Directors of the Italian State Railways, held today under the chairmanship of Professor Marcello Messori, unanimously appointed Michele Mario Elia as Chief Executive Officer.

Upon the request of the shareholder, Ferrovie dello Stato Italiane has entrusted to the President the role of coordinating the supervisory activities, as well as, in alignment with the Chief Executive Officer, the definition of strategies in light of the increasing challenges determined by the liberalization process of services and infrastructure. The Chairman is also responsible of keeping momentum behind initiatives related to possible future privatization.

The Board expressed its best wishes to the new leadership for achieving their goals.



The Shareholders’ Meeting of Ferrovie dello Stato Italiane SpA has been held today.

The Shareholders’ Meeting appointed the new Board of Directors which comprises Michele Mario Elia, Daniela Carosio, Vittorio Belingardi Clusoni, Giuliano Frosini, Gioia Ghezzi, Simonetta Giordani, Federico Lovadina and Wanda Ternau.

The Shareholders’ Meeting then appointed Marcello Messori as the Company’s President.



The FS Italiane Board of Directors approved the consolidated Financial Statements of the FS Italiane Group as at 31 December 2013, prepared in accordance with International Accounting Standards IAS/IFRS.



In order to fulfill our duties for a compliant financial information, it is following reported a translation of the official Ministry of Economy and Finance (MEF) press release dated april 14th, where the name of the current FS’s CEO – Mauro Moretti – has been proposed  a member of the next Finmeccanica’s Board of Directors.

Press Release n. 96, april 14th 2014
Nominees for the new boards of directors in Enel, Eni, Finmeccanica and Poste Italiane have been designated

As anticipated by a government press release, the Ministry of Economy and Finance (MEF) will provide shortly to consign the lists of the new boards of directors for the Enel, Eni and Finmeccanica public companies at the respective headquartes.

With regard to the Enel S.p.A. shareholders’ meeting (called on May 22nd), the Ministry of Economy and Finance, owner of 31,24% of capital share, will consign shortly the following list for the replacement of the new Board of Directors at the company headquarter:
1. Patrizia Grieco
2. Francesco Starace
3. Alberto Pera
4. Alberto Bianchi
5. Salvatore Mancuso
6. Paola Girdinio

With regard to the Eni S.p.A. shareholders’ meeting (called on May 8th), the MEF, owner of 4,34% of capital share directly and indirectly via Cassa Depositi e Presiti (80,10% owned by MEF) which owns 25,76%, will consign shortly the following lists for the replacement of the new Board of Directors and the Board of Statutory Auditors at the company headquarter:

Board of Directors
1. Emma Marcegaglia
2. Claudio Descalzi
3. Fabrizio Pagani
4. Luigi Zingales
5. Diva Moriani
6. Andrea Gemma

Board of Statutory Auditors
1. Paola Camagni (Sindaco effettivo)
2. Alberto Falini (Sindaco effettivo)
3. Marco Seracini (Sindaco effettivo)
4. Massimiliano Galli (Sindaco supplente)
5. Stefania Bettoni (Sindaco supplente)

With regard to the Finmeccanica S.p.A. shareholders’ meeting (first called on May 9th and second called on May 15th), the Ministry of Economy and Finance (MEF), owner of 30,2% of capital share, will consign shortly the list for the replacement of the new Board of Directors at the company headquarter:

1. Gianni De Gennaro
2. Mauro Moretti
3. Marta Dassù
4. Guido Alpa
5. Alessandro De Nicola
6. Marina Calderone
7. Fabrizio Landi

Eventually, it is said that, on the occasion of the next Poste italiane S.p.A. shareholders’ meeting  the MEF, owner of 100% of capital share, will approve the following list for the new 2014-2017 Board of directors:
1. Luisa Todini
2. Francesco Caio
3. Roberto Rao
4. Antonio Campo dall’Orto
5. Elisabetta Fabbri

With regard to Terna S.p.A., whose designations are up to Cassa Depositi e Presiti’s Board, the related proposals will be consistent with the criteria used by the Government for its designations.[omissis]


The Ministry of Economy and Finance, as the sole shareholder, will communicate in the coming days the name of the person who will join the FS’ Board of Directors and thereafter will be designed as the new CEO of Ferrovie dello Stato Italiane SpA.



Mauro Moretti, FS Italiane CEO, today presented the company’s targets and strategies of the 2014-2017 Industrial Plan to the financial community.

Revenues will increase up to Euro 9.5 billion over the next four years (Euro 8.2 billion in 2012). One of the key targets is a revenues’ average annual growth equal to 3.5% per year, mainly driven by the rail and bus transport services’ proceeds which are expected to exceed Euro 7 billion in 2017. (read more)



The FS Board of Directors has approved the Group Industrial Plan which is mainly focused on the local passengers' public transport. In 2017 the revenues will amount to more than 9.5 bio Euro.
Over the next four years, the Plan presents a revenues' growth up to 9.5 bio Euro (8.2 bio Euro in 2012). One of the key targets is a revenues’ average growth rate equal to 3.5% per year, mainly supported by the rail and bus transport services’ proceeds which go beyond 7 bio Eur in 2017; the EBITDA continues the sound performance reaching an expected amount of 2.5 bio Euro (1.9 bio Eur in 2012) and leading to an EBITDA margin increase of more than 3% in comparison with the last years.
 



Strong success for the second Eurobond issue by Ferrovie dello Stato Italiane (“FS”) under the outstanding Euro 4,5 bn EMTN programme.

FS (Issuer Rating: S&P’s: BBB; Fitch: BBB+)  took advantage of the favourable market conditions to launch a new bond with an 8-year maturity and an annual coupon of 3.5%

Thanks to the overwhelming demand of ca. Euro 1,6 bn the final size was fixed at Euro 600 million upsized from the initial target of Euro 500 million.

The proceeds of the bond will be used mainly for investments in railway infrastructure and rolling – stock as per Base Prospectus.

The final pricing was set at MS+180bp, inside the Initial Price Thoughts by 10bps, equivalent to minus 17bp through the referring government curve.

Barclays, Goldman Sachs, Morgan Stanley,  Royal Bank of Scotland and UniCredit acted as Joint Bookrunners and Joint Lead Managers in the transaction.



The FS Board of Directors has approved the Consolidated Half-year Report as of June 30, 2013, drawn up according to IAS (the International Accounting Standards).
Figures have confirmed the positive performance recorded over the last few years.



Today the Board of Directors of FS Italiane, chaired by Lamberto Cardia, confirmed Mauro Moretti as Chief Executive Officer conferring on him the company management powers.



The General Assembly of Ferrovie dello Stato Italiane SpA - held today - has appointed the members of the new Board of Directors: Lamberto Cardia (as Chairman), Mauro Moretti, Antimo Prosperi, Mauro Coletta, Maria Teresa Di Matteo.

The General Assembly has also appointed the Board of Statutory Auditors: Alessandra dal Verme (as Chairwoman), Tiziano Onesti, Claudia Cattani.



• final orderbook of 3.6 bio EUR (4.6x)
• 57% came from foreign investors

Strong request registered for the inaugural bond issue of Ferrovie dello Stato Italiane, issued as of last July the 15th.
The deal size was 750 mio Eur, with an orderbook of 3.6 bio Eur (+470%). 57% of the orders came from foreign investors, with significant contributions from UK and Germany.
The relevant net proceeds, as already announced, will mainly fund investments in the railway infrastructure and new rolling stocks.
The FS EMTN Programme received the same long-term senior rating of the Republic of Italy (Fitch: BBB+/SP’s: BBB) and it is based on a strong “Investment Grade” stand-alone assessment (SP’s: BBB-). Deutsche Bank, Crédit Agricole, UniCredit, J.P. Morgan acted as Arrangers of the 4.5 bio Eur FS EMTN Programme.



Notification pursuant to art. 65-decies of Consob regulation no.11971/1999 and subsequent amendments and as provided by the Transitory Regime disciplined by Consob resolution no. 16850/2009

Ferrovie dello Stato Italiane S.p.A., with registered office in Rome (RM), Piazza della Croce Rossa 1, in the capacity of the issuer of securities, has elected Italy as Home Member State.


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