SNCF and DWS Start Exclusive Talks with CDPQ on Proposed Sale of Akiem

Posted on 08/02/2022

Following a competitive auction process, Akiem shareholders have agreed to enter into exclusive negotiations with CDPQ on the proposed sale of Akiem, a provider of freight locomotive leasing services in France and Europe. With revenues of nearly EUR 220 million, EBITDA of around EUR 150 million in 2021, a fleet of over 600 locomotives, 46 passenger trains and some 250 employees, Akiem is a key player in European locomotive leasing and maintenance. Headquartered in France with 7 international offices, Akiem provides local expertise to over 80 customers in 21 countries. The company has the largest fleet on the continent, of which 75% is electric, a share that is expected to increase in the coming years. SNCF Participations subsidiary holding firm TLF and DWS’ investment fund Eurotraction have an equal stake in Akiem.

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.

DWS became a shareholder of Akiem in 2016. In February 2020, Akiem moved to purchase Macquarie Europe Rail’s rolling stock leasing business, which included 137 locomotives and 21 freight and passenger operators.

Keywords: Caisse de depot et placement du Quebec.

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