Abrdn’s third European core infrastructure fund, in partnership with rolling stock manager Rock Rail and train manufacturer Alstom, has completed a sale and leaseback agreement for 31 new six-car Talent 3 Plus electric trains serving the Baden-Württemberg and Saale-Thuringia-Südharz networks in Germany.
Financial details were undisclosed.
The deal is the seventh investment by abrdn’s ASCI III, and also represents the sixth deal that abrdn and Rock Rail have closed together since partnering ten years ago.
Nick Flynn, investment director, abrdn, said: “This represents the sixth major investment in passenger trains for the abrdn core infrastructure team, where we have raised over €3.5bn of new investment into UK and European rail infrastructure, improving the environmental credentials of rail travel and delivering a higher quality passenger experience.
“We are committed to delivering safe and reliable essential infrastructure to local communities and we appreciate all the parties’ involvements and efforts in successfully reaching financial close.”
Henry Swindell, investment director, Rock Rail, said: “We are pleased to announce our fourth major rolling stock acquisition in Germany. The transaction is further proof of the continued recovery in the transport sector, which has seen disruption and change aplenty in recent years.
“The trains are already making a difference, delivering flexibility to service operations and a step change in the passenger experience. Now begins the hard work to bring the remaining trains into service at a high-performance level.”
Christoph Klaes, vice president customer management, Alstom, said: “We are delighted that Rock Rail and abrdn have opted for the Talent 3 Plus. The trains provide a state-of-the-art passenger experience, a high level of comfort and ample capacity for the growing demand for sustainable transport in Baden-Wuerttemberg.”
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