Medlog, the logistics branch of MSC, has officially acquired shares in Interporto Bologna, one of Italy’s main inland logistics hubs. The company picked up unsubscribed shares by investing six million euros to cover a capital injection totalling eight million euros.
Medlog’s entry in the terminal, with a 17% stake, was approved on Wednesday, 22 July after the Interporto Bologna 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 might be the first step towards majority shareholding, as the city of Bologna is selling the 35% it owns. Moreover, the Swiss group is reportedly interested in the 17% in the hands of Italian bank Intesa Sanpaolo, which would give them over 70% of the total shares.
Public investors to cover rest of capital injection
The remaining two million euros needed to reach the eight are going to be provided by the Interporto Bologna shareholders still in public hands. The Metropolitan City of Bologna will pitch in with 1,4 million euros, the city’s Chamber of Commerce will give 482,361 euros while Mercitalia Rail will provide the remaining 121,495 euros, according to Italian media Shipping Italy.
Unions are not celebrating
The city of Bologna decided to put its shares in the terminal for sale for new entrants to focus on developing rail freight. However, Medlog’s possible takeover has caused adverse reactions from trade union USB. A privatisation of the facility, they argued, might hinder working conditions and the collective interest.
Medlog’s initiative in Bologna is not the first example of massive logistics players becoming shareholders of important terminals that have historically been publicly owned. Terminal operator PSA joined forces with Logtainer to take over 70% of Interporto Padova, another important terminal for Italian rail freight operations.
Big plans for Emilia-Romagna
In addition to Medlog’s participation in Interporto Bologna, July brought more positive developments for rail freight in the Emilia-Romagna region, one of Italy’s industrial powerhouses. Interporto Bologna and most of the main logistics players in the area renewed the Emilia-Romagna Intermodal Cluster (ER.I.C.) and, for the first time, it included the state-owned rail freight operator FS Logistix.