GATX Corporation (NYSE:GMT) today announced the sale of its 37.5% interest in AAE Ahaus Alstätter Eisenbahn Cargo AG (“AAE Cargo”) to its partner, AAE Ahaus Alstätter Eisenbahn Holding AG (“AAE Holding”). The sale price of €84.5 million consisted of €17.0 million in cash and a €67.5 million secured loan to AAE Holding. As a result of the sale, GATX will report an after-tax loss of approximately $3.0 million attributable to the AAE affiliate in the third quarter.
Brian A. Kenney, president and chief executive officer of GATX said, “As a result of this sale, we are now better positioned to pursue growth opportunities in the European rail market through our wholly-owned business, GATX Rail Europe.”
GATX Corporation (NYSE:GMT) strives to be recognized as the finest railcar leasing company in the world by its customers, its shareholders, its employees and the communities where it operates. Controlling one of the largest railcar fleets in the world, GATX has been providing quality railcars and services to its customers for 115 years. GATX has been headquartered in Chicago, Illinois since its founding in 1898. For more information, visit the Company’s website at www.gatx.com.Investor, corporate, financial, historical financial, photographic and news release information may be found at www.gatx.com .
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV