Skoda pulls out of bidding for Rosco

Skoda pulls out of bidding for Rosco

Railway carriage maintenance company Rosco seems to have just one remaining suitor, as Czech firm Skoda Transportation is said to have withdrawn from the tender.

The submission of bids for the sale of 100 percent of Rosco shares has been postponed for another month, with Italy’s Ferrovie dello Stato Italiane being the last party still in the bidding. However, in contrast to the initial plans, the Italians have decided to have their Greek subsidiary Trainose bid for Rosco, avoiding the direct involvement of the Italian state rail company.

That shift, which had been announced by Trainose managing director Filippos Tsalidis, is seen as the reason for the new deadline postponement, as the tender will now close at the end of this month or early March at the latest.

Sources explain that the new delay is due to the need for a change in the letters of guarantee. On the other hand the Italian investors noticed the reduced interest in Rosco and were happy to ask for a postponement of the deadline, so as to learn the 2017 financial figures too. Despite the delays, the privatization process of Rosco is expected to go smoothly.

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