Macquarie European Infrastructure Fund sells Sweden's AB-Train

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Macquarie European Infrastructure Fund sells Sweden's AB-Train

Macquarie European Infrastructure Fund (MEIF) announced last week that after a decade of ownership it has divested its shareholding in A-Train AB, the operator and manager of Arlanda Express and the Arlanda Rail Link (Arlandabanan) in Sweden, to a consortium of long-term infrastructure investors.

MEIF took ownership of A-Train in 2004, when the company was in financial difficulty. Today, after more than a decade of responsible management, over 50 million passengers have used the Arlanda Rail Link, including the Arlanda Express, to travel between central Stockholm and Arlanda Airport, and the company is in a stable financial position, safeguarding the long-term viability and quality of services.

Following approval of the change of ownership by Arlandabanan Infrastructure AB, the new owner is a consortium of institutional investors, the majority being Australian superannuation funds. The consortium members each have substantial experience in making long-term investments in quality infrastructure businesses in Europe and globally. Macquarie will provide certain transitional services for up to 6 months to ensure a smooth transfer of ownership.

Edward Beckley, the European Head of Macquarie Infrastructure and Real Assets, the manager of MEIF, said:

During MEIF's ownership, A-Train has invested hundreds of millions of krona in its infrastructure and rolling stock, creating an award winning train service. Furthermore, A-Train has made the Arlanda Rail Link available to other train operators and offers significant discounts for all airport workers in the region.

Consequently, the annual passenger numbers on the rail link have increased by over 2 million in the past decade, to reach 5 million annual travellers, bringing substantial environmental and economic benefits for the region.  We are proud to have been part of this development.

Bank of America Merrill Lynch, Baker & McKenzie LLP and Cederquist advised MEIF.

Macquarie European Infrastructure Fund (MEIF) is a specialist infrastructure fund focussed on long-term investment in high quality European infrastructure businesses. MEIF is the first in a family of four Macquarie European infrastructure funds managed by Macquarie Infrastructure and Real Assets (MIRA), based in London. MIRA manages over 100 infrastructure businesses around the world, representing a total of A$113billion assets under management.

Arlandabanan Infrastructure AB (AIAB) is fully owned by the Swedish state and supervises the state's rights and obligations with regard to Arlandabanan. Its shares are managed by the Government Offices through the Ministry of Enterprise, Energy and Communications.  AIAB's assignment is to own and manage the railway system from Rosersberg via Arlanda Airport to Odensala (Arlandabanan) as well as let the line and supervise certain other rights that are needed to operate rail transport between Arlanda Airport and Stockholm Central Station to A-Train.

Share this news