Press releases

Leading European passenger transport group Arriva plc today announced it has entered into a new joint venture, which has contracted to acquire 49 per cent of Italian bus operator SPT Linea for €6.8 million (£4.7 million).

Arriva’s Italian business SAB Autoservizi s.r.l. and Lombardy-based Ferrovie Nord Milano Group (FNM SpA), entered into a 50/50 joint venture to acquire the shares in SPT Linea.

SPT Linea, part of Società Pubblica Trasporti S.p.A. (SPT SpA), is a publicly-owned transport company with annual revenue of €38.9 million (£26.6 million). The remaining 51 per cent of the company is owned by SPT Holding Società S.p.A., a publicly-owned company controlled by Como Council, the provinces of Como and Lecco and by a consortium of municipalities located in the province of Como.

SPT Linea operates 317 buses across the Lombardy region of northern Italy. Employing 539 people, the business provides a range of urban and inter-urban routes serving key locations such as the province of Como, Lecco, Monza and prestigious tourist resorts such as Menaggio, Cernobbio and Bellagio.  Its service contract operates until 31 December 2011.

David Martin, chief executive of Arriva plc, said: “We are pleased to join forces with FNM SpA and be successful in winning this investment opportunity. The joint venture complements our existing operations in the Lombardy region and strengthens our position as the largest private bus operator in the Italian transport market.

“SPT Linea has an experienced management team and we look forward to working with them and FNM SpA to take the business forward.”

The acquisition is subject to approval from the Italian Competition Authority.  A decision is anticipated in the coming months.