Babcock & Brown is rumoured to announce that its consortium of
banks will purchase Europe’s largest rolling stock lessor, Angel
Trains, from Royal Bank of Scotland for £3.5bn, according to
The Australian.
Chief executive, Phil Green, told the newspaper that B&B has
a number of leasing and infrastructure deals in the pipeline –
quelling rumours that the firm was unable to go ahead with the
purchase due to tough debt markets.
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Green also reportedly told The Australian, that while
markets are tough, B&B is not having trouble raising
debt.
For example, B&B made some of the first asset deals in six
months after increasing a stake in a Portuguese toll road, which
required shifting 11 assets off its balance sheet into one of its
UK based subsidiaries, and increasing its presence in India.
B&B’s consortium is backed by Deutsche Bank and the American
International Group; once rival bidders the banks teamed up in
January to form the group.
RBS began a formal sale process for Angel Trains in September
last year.
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