Rail First changes ownership
DIF and Amber are jointly acquiring the Australian railfreight leasing company Rail First on a 50-50 basis. The companies have signed a takeover agreement to this effect. The transaction is subject to approval by Australia’s foreign investment review board and is expected to close by end-October 2022.
Rail First offers leasing solutions for rolling stock such as locomotives, as well as intermodal and hopper wagons. Its services also include rollingstock overhaul and repair. It is Australia’s only domestic manufacturer of rail wagons.
From humble beginnings 24 years ago with thirteen used locomotives bought at auction, Rail First has grown and now owns one of the largest intermodal fleets in the country and over AUD 450 million (EUR 303 million) in assets under its management. (ben)