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Aug 02 2022

SNCF might sell Akiem to Canadian investor

SNCF is negotiating the sale of its freight locomotive leasing company Akiem with the Canadian investment fund Caisse de Dépôt et Placement du Québec (CDPQ). The railway company jointly owns the subsidiary (50:50) with German infrastructure asset manager DWS.

The value of the proposed transaction has not been disclosed, but earlier this year French media reports speculated that Akiem could fetch around 2.5 billion euros.

 

75% of fleet electric-powered

According to France’s state railways, Akiem is a European leader in locomotive leasing and maintenance. It posted revenues of nearly 220 million euros and an EBITDA of around 150 million euros in 2021. Akiem operates a fleet of over 600 locomotives, 46 passenger trains and employs some 250 staff.

Headquartered in France and with seven international offices, the company provides local expertise to over 80 customers in 21 countries. The company has the largest fleet on the continent, of which 75 per cent is electric, a share that is expected to increase in the coming years, SNCF added.

 

‘Competitive edge’

CDPQ’s offer is subject to the customary consultation with employee representative bodies within the SNCF Group and Akiem. In addition, the transaction is subject to the approval of certain competition authorities.

Emmanuel Jaclot, Executive Vice President and Head of Infrastructure at CDPQ, commented: “Akiem’s size and positioning across the entire value chain, including maintenance, give it a significant competitive edge to benefit from the expected growth in the locomotive leasing market across Europe.

“With three quarters of its fleet already operating on electricity, Akiem offers a sustainable response to the challenges of decarbonizing transport – a solution that appealed to us from the start.” Read more

 

Source: RAILFREIGHT.COM