Extra financing secures European growth
Belgium-headquartered Lineas has secured EUR 60 million in additional financing to pursue its international growth strategy. The financing will strengthen the company’s financial buffers and enable the further rollout of Lineas’ European growth strategy over the coming years.
Lineas’ revenues in 2020 were almost 10% lower than previous year, caused by the drop in transport volumes during the Covid-19 crisis, with a peak of 40% less volumes at the height of the crisis, the company said.
Half of the funds is provided by the bank consortium Belfius and BNP Paribas Group the other half coming from the majority shareholder Argos Wityu and the incoming shareholder SFPI/FPIM. As part of the agreement, the Belgium carrier SNCB/NMBS is selling its remaining 10% shares in Lineas to SFPI/FPIM. (ben)