The leadership of ITE has agreed to acquire SMBC Rail Services from Sumitomo Mitsui Financial Group, with SMBC RS assets, including over 50,000 railcars, set to be transferred to the American industrial transport division ITE, this is reported by the railway transport news portal Railway Supply.

50,000 railcars will be transferred

The deal, announced on November 7, is subject to customary conditions, including regulatory approval.

SMBC Rail Services is a division of Sumitomo Mitsui Banking Corporation (SMBC), providing services in railway leasing and financing, specializing in offering locomotives and equipment to railway companies.

Photo: SMBC Rail Services

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