ALLCO: Bank of Tokyo-Mitsubishi UFJ company BTMU Capital Corp has paid US$112m to acquire the European rail leasing business of Allco Finance Group, the companies announced on May 1.
The London-based European arm of Australian asset leasing firm Allco has 12 Bombardier Traxx F140 AC locos on order which will be delivered to Dillen & Le Jeune by December 31, five EMD Class 66s to be delivered to UK operator Fastline Freight this month, and 10 Class 66s for Freightliner. Two Vossloh Euro 4000 locos are destined for use in Scandinavia. All are subject to long-term operating leases.
'We believe that in the immediate term our efforts are more appropriately allocated to our US rail business that represents over 50% of our assets under management', said Mark Worrall, Global Head of Rail for Sydney-based Allco. 'We are delighted with the sale, which extends our relationship with Btmucc who provide funding for our US rail business and will employ our European rail team.'
- CAPTION: Freightliner has ordered 10 EMD Class 66 locos to be financed by Allco. Three are already in service in Britain, with the remainder due in the next month.