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WSJ: Sumitomo Mitsui Eyes GE’s U.S. Rail-Leasing Business

June 23, 2015, 07:15 AM
Filed Under: Industry News

The Wall Street Journal reported Sumitomo Mitsui Financial Group (SMFG) is interested in  General Electric's U.S. railway-leasing business, according to people familiar with the matter. According to The Wall Street Journal report, GE Capital Rail Services could be worth around $4 billion and has drawn interest from  Wells Fargo and other U.S. financial institutions, the people said.

The Wall Street Journal reported that SMFG has been expanding in leasing. According to the report, SMFG acquired an aircraft-leasing unit of  Royal Bank of Scotland Group  for $7.3 billion in 2012 and bought Chicago-based railroad leasing firm Flagship Rail Services from Perella Weinberg Partners LP for roughly $500 million in 2013. The latter is now called SMBC Rail Services.

Read The Wall Street Journal report: 
Japan's Sumitomo Mitsui Eyes GE’s U.S. Rail-Leasing Business - (subscription required)

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