Sale of wagon leasing business Ermewa
In 2021, SNCF Group finalized the sale of Ermewa to a consortium made up of CDPQ (Caisse de dépôt et placement du Québec) and a fund managed by DWS.
SNCF and the DWS-CDPQ consortium finalized the sale of Ermewa
GROUPE SNCF
SNCF, DWS and CDPQ (Caisse de dépôt et placement du Québec) completed the sale of SNCF Group’s 100% stake in Ermewa Holding and its subsidiaries to a consortium made up of CDPQ and DWS in October 2021.
A long-term business partner
Commenting on the deal, Jean-Pierre Farandou, SNCF Group Chairman and CEO, described Ermewa’s new owners—a 50/50 joint venture—as long-term partners that would ensure a lasting future for the company’s activity, and stressed that Ermewa would remain “an SNCF business partner”.
Financial roadmap on track
Jean-Pierre Farandou also explained that the sale of SNCF’s wagon leasing subsidiary—with its fleet of 100,000 wagons—would help accelerate the Group’s debt reduction and keep its financial roadmap on track.
A European leader
CDPQ has stakes in Keolis and Eurostar. And is also Alstom’s majority shareholder.
Ermewa is a European leader in freight wagon leasing, and a global leader in tank container leasing. Based in Paris, France, it employs 1,200 people. In 2020, it generated an operating profit of €271mn and revenue of €489mn.
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