Reported 3 months ago
Wells Fargo has announced the sale of its rail leasing equipment business to a joint venture between GATX Corp. and Brookfield Infrastructure for $4.4 billion, which includes approximately 105,000 railcars and a rail finance portfolio of 23,000 cars and 400 locomotives. This move aligns with Wells Fargo's strategy to simplify its business operations. The transaction is set to close by the first quarter of 2026.
Source: YAHOO