The French National Railways Society (SNCF) has commissioned the investment bank Lazard to initiate the sale of the Ermewa Group, a freight car leasing subsidiary of SNCF.
The sale of Europe’s second freight wagon lessor may begin at the end of 2020.
The French government is ready to write off a significant part of SNCF’s debt obligations, but the national operator suffered serious losses in 2020 due to a large strike at the beginning of the year and the COVID-19 pandemic, which resulted in a loss of about 4 billion euros in revenues, and does not exclude the option of selling part of the assets for improving the financial situation.
The sale is subject to 100% of the shares of Ermewa, which owns 42 thousand freight cars and 60 thousand tank cars operating in 13 European countries, as well as car building and repair companies. The company employs 750 people. estimated at 2.5 billion euros.