HSH Nordbank and KfW IPEX-Bank sell their shares in Railpool

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HSH Nordbank and KfW IPEX-Bank sell their shares in Railpool

KfW IPEX-80HSH Nordbank AG and KfW IPEX-Bank GmbH have sold their shares in Railpool to funds managed by Oaktree Capital Management, on May 9th. The purchase price was not disclosed.

Railpool was founded as a joint venture by HSH Nordbank and KfW IPEX-Bank in 2008. It leases rail vehicles, locomotives, and multiple units with or without full service to rail operators in Europe. In the few years of its existence Railpool has established itself in the market and has risen to become a leading asset manager.

Since its founding KfW IPEX-Bank and HSH Nordbank have each held a 50 percent stake in Railpool and provided the company with equity and debt capital in equal shares. Both banks will continue to be lenders to Railpool and support the future growth of the company.

Railpool Managing Director, Torsten Lehnert, said:

"We plan significant investments in new, innovative vehicles, the expansion of our excellent team as well as the internationalization of our business. As we continue to offer our customers modern, interoperable locomotives with an attractive full-service package, we are very pleased to welcome Oaktree as an excellent partner, who will support us strategically and financially in our plans going forward."

In parallel to the acquisition of Railpool, an order for five Vectron locomotives has been placed with Siemens for delivery in the coming months. In addition, negotiations are being held with several manufacturers for the order of at least 50 additional locomotives.

Hermann T. Dambach, Managing Director of Oaktree Germany:

"We are delighted to be associated with Railpool, one of the leading providers of locomotives. We support the strategic growth plans of the company and look forward to a productive partnership. With the investment in Railpool we are happy to expand our involvement in the transport sector, and help to take advantage of future growth opportunities in the leasing market for rail vehicles."

Oaktree has $86.2 billion in assets under management as of March 31, 2014. The firm emphasizes on investments in distressed debt, corporate debt, control investing, convertible securities, real estate and listed equities.

There have been several movements in the rail leasing industry during this last week. Pamplona Capital Management LLP has announced that it has signed a definitive purchase agreement to acquire Beacon Rail Leasing, a UK locomotive and rolling stock leasing company from BTMU Capital Corporation, a subsidiary of Mitsubishi UFJ Financial Group.

AMP Capital has increased its stake to 20.9 % in Alpha Trains last week. Alpha is continental Europe's largest and most diversified independent train leasing company

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