MRCE Siemens Mobility Vectron locomotive

EUROPE: Beacon Rail has entered into a definitive share purchase agreement to acquire 100% of locomotive leasing business Mitsui Rail Capital Europe from Mitsui & Co.

Beacon Rail said the transaction agreed on August 7 is expected to complete before the end of March 2024, subject to regulatory approvals.

Mitsui & Co said the divestment of MRCE forms part of an ongoing strategy to reorganise its business portfolio. The parties have agreed not to disclose the price, which is ’an appropriate amount determined through bidding’.

Luxembourg-based Beacon Rail currently owns 507 locomotives, 1 200 wagons and 572 passenger vehicles on lease in 18 countries.

Netherlands-based MRCE has a fleet of 222 electric locomotives, with a full-service offering delivered through a network of third-party workshops which includes maintenance, training and logistical support services.