SMBC RAIL SERVICES ANNOUNCES THE PURCHASE OF AMERICAN RAILCAR
LEASING FROM ICAHN ENTERPRISES L.P. (NASDAQ: IEP)
New York – December 19, 2016 — Sumitomo Mitsui Banking Corp (SMBC) announced that
its railcar operating lessor and fleet management business, SMBC Rail Services LLC (SMBC Rail),
has signed an agreement to purchase American Railcar Leasing LLC (ARL) from Icahn Enterprises
L.P. (NASDAQ: IEP)
The transaction, which will produce a premier full service lessor of long-lived rolling stock, offering
comprehensive rail leasing solutions in North America, with a combined fleet of approximately
50,000+ railcars that are positioned to carry a wide variety of commodities and serve a broad range
of industries, including energy, steel, agriculture, petrochemical and consumer goods. The expected
close is in the first half of calendar year 2017.
SMBC Rail, a leading North American Railcar Lessor, Headquartered in Chicago Il., was founded in
2006 as AIG Rail Services Inc. In May 2011 AIG Rail Services Inc. was purchased by Perella
Weinberg Partners Asset Based Value Strategy Fund and transitioned to Flagship Rail Services LLC.
In December 2013 Flagship Rail was purchased by Sumitomo Mitsui Banking Corporation.
"The combined fleets of SMBC Rail and ARL is an example of two complementary businesses
coming together to provide better solutions for our customers. This portfolio will be one of, if not
the youngest, most efficient, diversified fleets in the industry" said, Gene Henneberry, President and
Chief Executive Officer of SMBC Rail. "We look forward to serving and continuing to grow with
About Sumitomo Mitsui Banking Corporation
SMBC is headquartered in Tokyo, Japan, and is a wholly-owned subsidiary of Sumitomo Mitsui
Financial Group, Inc. ("SMFG"). Listed on the Tokyo, Nagoya and New York (via ADRs) stock
exchanges; SMFG has a market capitalization of approximately US$48 billion. SMFG is a leading
financial institution in Japan as well as a global provider of financial services.
Bank of America Merrill Lynch and SMBC Nikko Securities America, Inc. acted as exclusive
financial advisor and Skadden, Arps, Slate, Meagher & Flom, LLP and Chapman and Cutler LLP
legal advisor to SMBC in connection with this transaction.
PDF to THE PURCHASE OF AMERICAN RAILCAR
LEASING FROM ICAHN ENTERPRISES L.P.