Finance: Europe

Developments in transport finance, PPP, debt, equity, M&A deals from Europe

• Stadler signs cooperation contract with Government of Ukraine; to supply additional metro trains for Tyne & Wear network

  September 9, 2021
  Stadler has signed a memorandum of understanding (MoU) with the Ministry of Infrastructure of Ukraine, Ukrainian Railways/Ukrzaliznytsya (UZ), and the SERV Swiss Export Risk Insurance Agency for the development of rail services in Ukraine.

• FirstGroup signs sustainability-linked Revolving Credit Facility with banks [free access]

  September 1, 2021
  FirstGroup has announced that it has signed a new GBP300 million sustainability-linked Revolving Credit Facility (‘RCF’) with a group of its relationship banks.

• Renfe completes acquisition of 50 per cent stake in Leo Express

  August 26, 2021
  Renfe, the national railway operator in Spain, has completed the acquisition of a 50 per cent stake in Leo Express, an open-access train operator in the Czech Republic.

• EV and battery manufacturing to be subsidised in Russia

  August 24, 2021
  The Government of Russia will offer subsidies to electric vehicle (EV) and battery manufacturers to support the costs of plant construction and special investment contracts.

• Plan progresses to deploy clean buses in Harrogate, UK

  August 19, 2021
  The North Yorkshire County Council has been invited to bid for more than GBP8 million from the Government of the UK to assist in financing the plan to convert an entire Harrogate bus fleet to electric vehicles.

• Skoda Transportation acquirers Ekova Electric

  August 16, 2021
  Škoda Transportation has acquired Ekova Electric, a tram, trolleybus, and bus manufacturer.

• Webuild completes acquisition of tunnelling specialist Seli Overseas

  August 13, 2021
  Webuild has completed the acquisition of Italy-based Seli Overseas, a tunnelling specialist and a subsidiary of Grandi Lavori Fincosit.

• EIB to update transport sector lending policies

  August 12, 2021
  The European Investment Bank (EIB) has announced that it is consulting on updating its transport sector lending policies to prioritise projects according to its Climate Bank Roadmap, the European Commission (EC’s) Sustainable and Smart Mobility Strategy, and the European Union’s (EU’s) Sustainable Finance Taxonomy.

• Zeelo raises funds to expand in the US, Europe, and South Africa

  August 10, 2021
  UK-based Zeelo, a smart mobility platform provider, has raised USD12 million to accelerate its expansion in the US, Europe, and South Africa.

• Renfe plans to upgrade 44 Talgo high speed trains, Spain

  August 6, 2021
  Renfe, the national railway operator in Spain, has announced plans to invest EUR35 million in refurbishing 44 class 130 electric and class 730 bi-mode high speed trains.

• Siemens Mobility to acquire software provider Sqills

  August 5, 2021
  Germany-based Siemens Mobility has signed a binding agreement to acquire Netherlands-based Sqills, a software provider for inventory management, reservation, and ticketing software.

• Exclusive negotiations start for the sale of Thales’s GTS business to Hitachi Rail [free access]

  August 4, 2021
  Thales and Hitachi Rail have announced that they are entering into exclusive negotiations for the sale of Thales’s Ground Transportation Systems (GTS), a global business unit.

• EBRD approves EUR250 million loan for Abu Qir metro project, Egypt

  August 2, 2021
  The European Bank for Reconstruction and Development (EBRD) has approved a EUR250 million loan request from the government of Egypt to partially fund a project to convert Alexandria’s Abu Qir railway into an underground metro.

• EBRD approves loan for first section of Izmir Metro Line M2, Turkey [free access]

  July 29, 2021
  The European Bank for Reconstruction and Development (EBRD) has approved a EUR125 million loan to the Izmir Metropolitan Municipality for the construction of the first phase of the upcoming Izmir Metro Line M2.

• DfT announces additional funding for light rail operators, UK

  July 19, 2021
  The Department for Transport (Dft) has announced additional funding of GBP56 million for public transport operators to ensure that services are operational as COVID-19 restrictions are lifted.

• Additional funding allocated for zero-emission buses in Scotland, UK

  July 18, 2021
  The Government of Scotland has announced GBP50 million of additional funding for zero-emission buses.

• EIB approves funding package for rail projects [free access]

  June 23, 2021
  The European Investment Bank (EIB) has approved EUR946 million to improve rail and maritime connections.

• ICM Mobility Group acquires mobile ticketing specialist Unwire [free access]

  June 14, 2021
  ICM Mobility Group, a ticketing and payment services provider, has acquired Unwire, a mobile ticketing specialist.

• Funding allocated to upgrade commuter rail network in Cork, Ireland

  June 8, 2021
  The Government of Ireland has announced a EUR185 million upgrade of the commuter rail line in Cork.

• EC member states allocate funding for sustainable transport through recovery plans

  June 8, 2021
  The member states of the European Commission (EC) have collectively allocated EUR85 billion to sustainable transport as part of the National Recovery and Resilience Plans being developed to support the recovery from the effects of the COVID-19 pandemic.