Wells Fargo Offloads $4.4 Billion Rail Leasing Business

Published 22 hours agoGATX

Wells Fargo Offloads $4.4 Billion Rail Leasing Business

Wells Fargo has reached an agreement to sell its rail equipment leasing business, valued at $4.4 billion, to a newly established joint venture between GATX Corporation and Brookfield Infrastructure. This move will transfer a substantial portfolio that includes about 105,000 railcars, 23,000 finance lease railcars, and 440 locomotives, as reported by Reuters.

In the new joint structure, GATX will initially hold a 30% stake while Brookfield Infrastructure will possess 70%. GATX has the option to gradually acquire complete ownership. They will also take control of managing all commercial and operational aspects of the rail assets, ensuring a seamless transition and continuation of services.

Wells Fargo sees this transaction as a step towards refining its business focus on core operations, with the deal expected to conclude by the first quarter of 2026. This strategic sale is not anticipated to have a major impact on Wells Fargo's financial metrics, underscoring the bank's intent to enhance operational efficiency.

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