The regional authorities, including the Flemish and Walloon governments, are stepping in to support rail freight company Lineas as it faces financial struggles. According to a report by De Tijd, Lineas has received a lifebuoy worth 46 million euros from various financial institutions and investment firms.
The Flemish investment company PMV has contributed 17.5 million euros to the cause, while the Walloon government has provided 8 million euros through Wallonie Entreprendre. Additionally, KBC and Belfius banks have jointly contributed 20 million euros to assist Lineas.
Lineas is owned by a federal private equity firm and a French investment fund and employs 2,100 people in the port sector. Despite receiving financial assistance from the federal government in the past, Lineas continues to look for a strategic partner to ensure its stability in the future.
The authorities recognize that Lineas’ importance to the local economy and workforce cannot be ignored, which is why they are determined to prevent its collapse through their collaborative effort. The support from both regional governments and financial institutions underscores their recognition of Lineas’ significance in the region’s economic landscape.
In conclusion, Lineas’ recent receipt of funding from various sources highlights the importance of collaboration between different stakeholders in resolving financial challenges faced by companies operating within specific industries or regions.
