Press Release

Macquarie Group acquires portfolio of rail assets from Lloyds Banking Group

London, 29 November 2012

Macquarie Group today announces that Macquarie Bank Limited has established a new business, Macquarie European Rail, and agreed to acquire a European rolling stock leasing business from Lloyds Banking Group plc.

The business comprises three separate high-quality portfolios of rolling stock assets:

  • a portfolio of rail passenger vehicles currently leased to the franchisee which operates the Stansted Express airport rail service in the United Kingdom
  • a rail freight portfolio of locomotives and wagons under operating lease to two operators in the United Kingdom
  • a continental European rail freight and passenger portfolio of locomotives, passenger trains and wagons on operating lease to operators in Europe.

The acquisition builds on Macquarie’s existing business in the rolling stock sector and its extensive experience leasing assets through its Corporate and Asset Finance Group. Macquarie has an existing and growing rolling stock leasing business servicing the North American market.

Stephen Cook, Global Head of Transportation Finance, said: “This acquisition represents an outstanding opportunity for Macquarie to expand its leasing portfolio and develop a European rail leasing platform with a young and modern fleet of freight locomotives, wagons and passenger vehicles. The business provides a strong platform for growth, with the UK and continental European passenger and freight rail industries expected to benefit from the long-term growth in demand in these sectors.”

Completion of the transaction is subject to obtaining the required regulatory approvals and is expected to take place in late December 2012.

Macquarie Capital acted as financial advisor on the acquisition.


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