* Firms acquire 4,000 railcars
* Greenbrier says deal to add to earnings
April 30 Railroad equipment supplier Greenbrier
Cos (GBX.N) and private equity firm WL Ross & Co said they have
jointly acquired a lease portfolio of nearly 4,000 railcars
valued at about $230 million.
The firms acquired the portfolio through a newly-formed
venture, WLR-GBX, to be owned by affiliates of WL Ross for the
purpose of acquiring railcar assets in North America and
managed by Greenbrier.
WLR-GBX intends to seek additional opportunities to acquire
railcar lease portfolios utilizing this structure, Greenbrier
Greenbrier, which counts activist investor Carl Icahn as
one of its stakeholders, expects the deal to add to its
Last year, Greenbrier received a $75 million three-year
term loan from WL Ross and added founder Wilbur Ross to its
"The company is well-positioned for the expected rebound in
demand for freight cars and the long-term growth resulting from
rail's fuel efficiency compared with motor freight," Ross said
in a statement.
Shares of Greenbrier closed at $17.05 Thursday on Nasdaq.
(Reporting by A.Ananthalakshmi in Bangalore; Editing by Roshni