Rail freight giant Lineas secures 60 million euros in funding
Investment fund Argos Wityu and the Belgian government are finalising a 30 million euro capital injection into Lineas, the largest private rail freight company in Europe. In addition, the company is converting loans into capital, which will reduce its debt by more than 30 million euros, De Tijd writes.
Lineas, headquartered in Belgium, is crucial for rail transport to Belgian ports, especially the port of Antwerp-Bruges. Every year, more than 190,000 containers are loaded or unloaded at Lineas' transhipment terminal, and its trains transport cargo all over Europe.
The company has been looking for capital for some time as part of a recovery plan. This capital injection, totalling more than 60 million euros, is intended to bridge the gap until a potential investor comes on board. The company made an operating loss of 40 million euros last year and is expected to break even in 2024.
It is the second time in less than a year that shareholders have come to Lineas' aid. The company received a 20 million euro capital injection in the spring of 2023.
#FlandersNewsService | © BELGA PHOTO JONAS ROOSENS
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