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SNCF And DWS Finalized The Sale Of Akiem

posted on 9th Dec 2022 18:16

On 9 December 2022, SNCF, DWS and CDPQ announced that they have concluded the transaction whereby CPDQ has acquired the entire capital of Akiem, the leading provider of locomotive leasing services in Europe, from SNCF Group and DWS. The closing of the transaction, which was preliminary agreed in August 2022, follows the finalization of the customary consultation procedures with employee representative bodies of SNCF Group and Akiem, and the confirmation of the required regulatory approvals, in particular with the French competition authority.

With revenues of nearly 220 million EUR, EBITDA of around 150 million EUR in 2021, a fleet of over 600 locomotives, 46 passenger trains and some 250 employees, Akiem is the European leader in locomotive leasing and maintenance. Headquartered in France with eight European offices, Akiem provides local expertise to over 80 customers operating in 21 countries. The company has the largest fleet on the continent, of which 75 % is electric, a share that is expected to increase in the coming years.

Laurent Trevisani, Deputy CEO Financial Strategy, SNCF Group, states: “The sale of our stake in Akiem is fully in line with SNCF Group’s strategy to become a world leader in sustainable mobility for passengers and goods. It will participate in the financing of our rail activities and of our two strategic assets, Keolis and Geodis, which are growth drivers of the Group. It will also contribute EUR 0.8 billion to the reduction of the Group’s debt through the proceeds of the sale. We would like to thank the Akiem teams for their work and wish them all the best for this new phase of development.”

Hamish Mackenzie, Head of Infrastructure at DWS, says: “Since becoming a shareholder of Akiem in 2016, DWS has supported management’s strategic growth ambitions through its active asset management approach combined with the rail expertise of its partner, SNCF. Akiem’s success during our investment reflects the quality of its management team and their unrivalled track record in the European locomotive leasing market, as well as the quality of our long-term partnership with SNCF. We wish Akiem and its teams, as well as CDPQ, the new shareholder, every success in this new stage of growth.”

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