A PARTNERSHIP accord with joint governance with MSC designed to facilitate Italo's growth and commitment to sustainable transport has been signed, reports San Francisco's Business Wire.

Global Infrastructure Partners (GIP) fund has entered a binding agreement to sell a stake of 50 per cent in Italo - Nuovo Trasporto Viaggiatori SpA - to MSC and to establish a long-term partnership for Italo's future development.

"This agreement demonstrates our long-standing commitment to Italy and support for exceptional high-speed passenger rail transport in Italy."

The other 50 per cent will continue to be owned by GIP, which will have joint governance with MSC, and by Allianz Group entities and funds managed by Allianz Capital Partners, and other co-investors.

Italo is one of Europe's leading private high-speed rail operators. Since its launch in 2012, Italo has grown to operate a fleet of 51 energy efficient electric trains, connecting 51 cities across Italy and serving over 20 million passengers per year.