GATX soars on JV deal for Wells Fargo's $4.4 billion rail assets portfolio

Brookfield Infrastructure Partners LP

30/05/2025 16:43

** Shares of railcar lessor GATX GATX.N rise 9.3% to $160.07

** Wells Fargo WFC.N after market on Thursday said it had signed a deal to sell its rail equipment leasing business to a newly formed joint venture between GATX and Brookfield Infrastructure BIP.N

** Deal includes the U.S. banking giant's entire rail operating lease assets valued at around $4.4 billion, as well as the rail finance lease portfolio

** GATX will initially own 30%, while BIP will own 70% of the JV, with the former having the option to acquire full ownership over time

** GATX said it will have commercial and operational control, and manage all joint venture assets

** YTD, shares of GATX up 3.3%, including session gains

(Reporting by Manya Saini in Bengaluru)

((Manya.Saini@thomsonreuters.com))