GATX, Brookfield complete buy of Wells Fargo rail leasing [Yahoo! Finance]
Brookfield Infrastructure Partners LP Class A Subordinate Voting Shares (BIPC)
Company Research
Source: Yahoo! Finance
The transaction announced in May will be completed through a joint venture between GATX (NYSE: GATX ) and Brookfield Infrastructure (NYSE: BIP ), the former said in a release, to close on or about Jan. 1. The joint venture will purchase approximately 105,000 railcars for $4.4 billion; Brookfield, which owns short line operator Genesee & Wyoming, separately will acquire the Wells Fargo (NYSE: WFC ) rail portfolio of approximately 23,000 cars and 400 locomotives, according to GATX. GATX will own 30% of the joint venture and manage equipment across the transactions. It has an option to eventually acquire 100% ownership of the joint venture. Subscribe to FreightWaves' Rail e-newsletter and get the latest insights on rail freight right in your inbox. Find more articles by Stuart Chirls here Related coverage: Amtrak turns down ‘Transcontinental Chief' proposal: Report North Shore unveils US semiquincentennial locomotive STB asks comments on ‘completeness' of rail merger app
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BIPC
Earnings
- 1/29/26 - Miss
BIPC
Sec Filings
- 2/5/26 - Form SCHEDULE
- 1/29/26 - Form 6-K
- BIPC's page on the SEC website