ITALY: Private operator Arenaways has confirmed to Railway Gazette International that it is in talks with one public and one private investor over the sale of stakes in the company.
The Italian company says that ‘advanced negotiations are underway to further expand the corporate structure through the entry of two shareholders, a public and a private company, both are leaders on the European market’.
Spanish local media reported in early October that the administrative council of the Spanish national operator’s RENFE Internacional subsidiary had agreed to purchase shares in Longitude Holdings, which owns Arenaways.
This would pave the way for RENFE to get involved in the operation of passenger services in Italy, augmenting the cross-border trains it runs between France and Spain. RENFE also holds shares in Czech private operator Leo Express.
Arenaways back on
In March, the Piemonte region awarded Arenaways a 10 year PSO contract starting on January 1 2025 to run passenger services on the Cuneo – Savigliano and Ceva – Ormea lines.
Transport regulatory body ART gave approval in February for the company to operate inter-city passenger services on six domestic routes and one international corridor under open access rules.
Arenaways is owned by Longitude Holdings. Its shareholders are Arenaways Chief Executive Matteo Arena, rail infrastructure contractor Generale Costruzioni Ferroviarie and Caronte & Tourist which operates ferries in southern Italy.
Matteo Arena’s father, Giuseppe Arena, founded Arenaways, and the company briefly ran Torino – Milano open access services in 2010-11. At the time, the rail regulator refused to grant Arenaways approval to call at intermediate stations on this route, believing this would have threatened the viability of Trenitalia’s subsidised regional services. Arenaways failed to attract sufficient passengers and operations ceased in 2011.
