BELGIAN-based freight operator Lineas has been bolstered by the Belgian state increasing its share in the company to 45%. According to Belgian media, sovereign wealth fund SFPIM has upped its stake in the company from a previous holding of 35%.<\/p>\n
French investment fund Argos Wityu continues to hold a 55% majority shareholding in the company.<\/p>\n
Lineas, which has suffered losses in recent years and underwent a senior management reshuffle in 2022, has now successfully raised a total of \u20ac60m in fresh capital from its dual shareholders. They will invest an additional \u20ac30m, as well as converting \u20ac30m of bonds into capital.<\/p>\n
Last year Lineas said it was looking to raise \u20ac100m, but has obtained just \u20ac20m of that amount, again from its dual shareholders.<\/p>\n
Lineas CEO, Mr Bernard Gustin, is quoted in Belgian media saying that the freight operator is now looking for a Belgian partner to invest \u20ac50m into the company: \u201cIt is difficult to find someone who will actually take the step and come up with \u20ac50m,\u201d he says. \u201cThe more time passes, the more results I can show. But \u2026 the more time passes, the more cash problems Lineas has.\u201d<\/p>\n
Last year the operator made a loss of \u20ac39.5m on a turnover of \u20ac479m. This was an improvement on the previous year\u2019s loss of \u20ac100m.<\/p>\n
Gustin reportedly believes the company can achieve profitability from 2025 onwards.<\/p>\n
The post Belgian state ups stake in struggling Lineas<\/a> appeared first on International Railway Journal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" BELGIAN-based freight operator Lineas has been bolstered by the Belgian state increasing its share in the company to 45%. According to Belgian media, sovereign wealth […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[47,5],"tags":[],"class_list":["post-9246","post","type-post","status-publish","format-standard","hentry","category-rail-news","category-transport"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=\/wp\/v2\/posts\/9246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9246"}],"version-history":[{"count":0,"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=\/wp\/v2\/posts\/9246\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}