EUROPE: Leasing company Akiem Group has signed a definitive agreement to acquire Macquarie European Rail’s rolling stock leasing business, subject to regulatory approval.
The transaction includes 137 locomotives used by 21 freight and passenger operators, including EMD Class 66, Bombardier Traxx, Alstom Prima and GE Transportation 311D and UK Class 70 locos. There are also 30 Bombardier Class 379 electric multiple-units leased to UK operator Greater Anglia, 16 Stadler GTW diesel multiple-units in the Netherlands and 110 wagons.
Akiem is owned 50:50 by SNCF’s Transport et Logistique Partenaires subsidiary and infrastructure investor DWS’s Eurotraction business. It said the acquisition of the Macquarie fleet would reinforce its position in the locomotive market, taking its fleet to more than 600 locos operated by 65 customers, and diversify its portfolio into the multiple-unit sector.
The deal ‘was made possible as part of the implementation of our efficient new funding platform, which closed last September’, said Akiem CEO Fabien Rochefort on February 17. ‘Our main goal is to better serve our customers with a wider geographical scope and a comprehensive portfolio of rolling stock and services. In addition, the acquisition of this first passenger train portfolio constitutes an opportunity to accelerate our market positioning with regards to passenger train financing in Europe and in the context of French market liberalisation.’
Nomura acted as Akiem’s M&A advisor, Crédit Agricole CIB as sole debt arranger and Hogan Lovells was legal counsel.