December 27, 2016

SMBC acquires American Railcar Leasing

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SMBC Rail Services, a subsidiary of Sumitomo Mitusi Banking Corporation, has agreed to acquire American Railcar Leasing, the sixth largest wagon leasing company in the United States with a fleet of 34,300.

The deal was struck with current 100%-owner Icahn Leasing, and once completed, the transaction will leave SMBC Rail Services with around 50,000 wagons. The company says the acquisition will strengthen its presence in the expanding US wagon leasing market.

The deal is expected to close in the first half of 2017, subject to regulatory approval and clearance.

SMBC Rail Services currently holds 20,500 wagons, the seventh largest fleet in the US. The acquisition follows its purchases of SMB Aviation Capital in 2012 and SMBC Rail in 2013.

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