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Vespucci freight village: Port Network Authority ready to endorse its capital increase

The North Tyrrhenian Port Network Authority is now just a step away from endorsing its increased capital in the Vespucci freight village

The President of the Port Network Authority, Stefano Corsini, announced this during the Management Committee meeting. The leading figure of the authority that governs the ports of Livorno and Piombino illustrated the operation, which is both economically and legally sustainable. The requirements for maintaining shares set out in the Consolidated Act on shareholder companies have been met, as the freight village performs a service of general interest.

6.65 million euros will be allocated to investments as part of the acquisition of shares in the Company. The operation will allow the Port Network Authority to consolidate its shares, which will increase from 9.59% to 30%.

The investment in the Tuscan A. Vespucci Freight Village complies with the Port Network Authority’s role in promoting port links with retro-port and inter-port logistics systems. The Port Network Authority has also acquired an initial positive report by PWC Advisory spa on the work carried out with reference to the updated recovery plan prepared by the company with the help of KPMG.

The completion of the capital increase will be subject to the fulfilment of certain conditions such as fine-tuning the contribution by Tuscany Regional Administration and the signing of the restructuring agreement by credit institutions.