Medlog, the logistics arm of MSC, has officially acquired shares in Interporto Bologna, one of Italy’s main inland logistics hubs. The company acquired previously unallocated shares by investing €6m as part of an €8m capital increase.
Medlog’s entry into the terminal, with a 17% stake, was approved on Wednesday, 22 July, following Interporto Bologna’s shareholders’ meeting. “The industrial contribution resulting from this structure will generate significant development opportunities, particularly in rail freight transport,” Interporto Bologna said.
The move by the MSC subsidiary could be the first step towards a majority stake, as the City of Bologna is selling its 35% share. The Swiss group is also reportedly interested in the 17% stake held by Italian bank Intesa Sanpaolo. Acquiring both stakes would give Medlog more than 70% ownership.
Public shareholders
The remaining €2m needed to complete the €8m capital increase will be provided by Interporto Bologna’s public shareholders. The Metropolitan City of Bologna will contribute €1.4m, the city’s Chamber of Commerce will provide €482,361, and Mercitalia Rail will contribute the remaining €121,495, according to Italian media outlet Shipping Italy.
Union raises concerns
The City of Bologna decided to sell its stake in the terminal to attract new investors focused on developing rail freight. However, Medlog’s potential takeover has prompted criticism from trade union USB. The union argued that privatisation of the facility could affect working conditions and the wider public interest.
Medlog’s move in Bologna is not the first example of major logistics companies becoming shareholders in important terminals that have historically been publicly owned. Terminal operator PSA recently partnered with Logtainer to acquire a 70% stake in Interporto Padova, another key terminal for Italian rail freight operations.
Emilia-Romagna rail freight
Alongside Medlog’s investment in Interporto Bologna, July brought further positive developments for rail freight in Emilia-Romagna, one of Italy’s main industrial regions. Interporto Bologna and several major logistics players in the area renewed the Emilia-Romagna Intermodal Cluster (ER.I.C.). For the first time, the state-owned rail freight operator FS Logistix joined the initiative.