Hogan Lovells advises on Greek railway privatisation

The Hellenic Republic Asset Development Fund (HRADF) has published an invitation to submit an expression of interest for the acquisition of the Greek railway transport operator (TRAINOSE). Hogan Lovells advised on the reorganisation and privatisation of TRAINOSE.

In 2011, the Greek parliament passed an act for the restructuring of Hellenic Railways Organisation (OSE), as well as of TRAINOSE, in order to comply with the strict implementation of the country’s debt recovery plan.

The changes meant that the OSE would remain the Greek rail infrastructure manager, while its commercial activities would be spun off and the restructured TRAINOSE would continue providing traction services for the transport of goods and passengers by rail.

Hogan Lovells has been the European Union and International Law Counsel of the Greek government since January 2013, advising on the reorganisation and privatisation of TRAINOSE and the rolling stock maintenance unit of OSE (ROSCO).

A number of Hogan Lovells lawyers from the Brussels, London, Paris, and German offices are involved in the project. The team is led by partners Paris Anestis in Brussels, Steven Bryan and Simon Gwynne in London.

Hogan Lovells had also been advising the Greek Government since July 2011 with regard to two state aid notifications through which Greece requested the European Commission’s approval for the authorisation of state aids to OSE and TRAINOSE.