First Union Rail: Announcement
First Union Rail has signed an agreement to purchase GE Railcar Services from GE Capital. The transaction, which will add to the existing fleet more than 77,000 railcars and just over 1,000 locomotives as well as associated operating and long-term leases, is expected to close by end of Q1 2016. Terms of the transaction are not being disclosed.
The acquisition of GE's railcar and locomotive fleet will make First Union Rail the second largest and most diverse railcar and locomotive leasing company in North America.
Click here to see full press release announcement.