SNCF and DWS, the Akiem shareholders, entered into exclusive negotiations with Caisse de dépôt et placement du Québec (CDPQ) on the proposed sale of Akiem, following a competitive auction process.
CDPQ’s offer is subject to the customary consultation with employee representative bodies within the SNCF Group and Akiem. In addition, this transaction is subject to the approvals of certain competition authorities.
“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,” Emmanuel Jaclot, Executive Vice President and Head of Infrastructure at CDPQ said.
The revenues of Akiem reached EUR 220 million with EBITDA of around EUR 150 million in 2021. Headquartered in France with 7 international offices, Akiem provides local expertise to over 80 customers in 21 countries. The company has the largest fleet in Europe, of which 75% is electric, a share that is expected to increase in the coming years.
The rolling stock leasing company has a fleet of 600 locomotives and 46 passenger trains. In December 2021, Akiem and Siemens Mobility signed a framework agreement with a firm order for 20 Vectron multisystem locomotives equipped with ETCS and designed for a top speed of 200 km/h.
In 2020, Akiem entered into a definitive agreement to acquire Macquarie Europe Rail’s rolling stock leasing business which will add 137 locomotives to its fleet.
Recently, the company, in collaboration with Banque des Territoires, announced the establishment of TerriTrains, a consortium which will offer financing, procurement and management solutions for passenger train fleets as French rail passenger market is opening to competition.
The sale of Akiem is “in line with SNCF Group’s strategy to become to become a global leader in sustainable mobility for people and merchandise. Once the definitive agreements are concluded, this transaction will provide financing for our core activities and the Group’s future growth while accelerating debt reduction,” Laurent Trevisani, Deputy CEO Financial Strategy, SNCF Group said.