Latham & Watkins has advised Italo Holding (Italo), one of Europe’s leading high-speed rail operators, and its shareholders Global Infrastructure Partners (a part of BlackRock), Mediterranean Shipping Company, Allianz Global Investors, and the founding partners on the financing to support Italo’s €3.6 billion investment in Germany.
The financing will support Italo’s planned 2028 entry in the Germany market, having entered into an agreement with Siemens Mobility to buy 26 high-speed trains, with an option for 14 additional units. The company’s total €3.6 billion investment in Germany will see services begin on two main German corridors by mid-2028, introducing new competition to one of Europe’s largest rail markets.
Latham previously advised Italo on its bank and private placement refinancing package in July 2026 for its current operations in Italy.
The Latham team was led by London infrastructure partners Conrad Andersen and Amanda Fortuna, Frankfurt partner Sibylle Munch, Milan partner Antongiulio Scialpi, and Frankfurt counsel Ralph Draeger, with London associates Evan Whyte, Jason Lin, and Atharva Deshpande, Milan associates Nicola Nocerino and Alessandro Bertolazzi, and Frankfurt associates Andre Traute and Aron Mackenstedt. Advice on hedging matters was provided by London partner Delyth Hughes, with associate Nick Surry; and on tax matters by Munich partner Ulf Kieker and London partner Aoife McCabe, with Frankfurt associate Henning Kleymann.
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