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Icahn Enterprises LP Announces Formation Of Railcar Joint Venture

Wednesday, 25 Sep 2013 10:42am EDT 

Icahn Enterprises LP announced that it has entered into an agreement with its Chairman, Carl C. Icahn, to form a joint venture, American Railcar Leasing LLC (New ARL). IEP will own 75% of New ARL. IEP has agreed to contribute cash and railcar assets having an aggregate value of approximately $737 million to New ARL in exchange for its 75% ownership interest. In fiscal year 2014, its 75% ownership interest in New ARL is expected to generate operating income attributable to IEP of between $120 million and $125 million, and EBITDA attributable to IEP of between $175 million and $185 million. 

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0.7 +0.66%
26 Nov 2014