03 Sep Deal of the month: Clairfield advises Vossloh on sale of locomotive unit to Chinese rail giant CRRC
Vossloh AG signed a contract for the sale of its business unit Vossloh Locomotives to CRRC Zhuzhou Locomotive Co., Ltd., Zhuzhou, China (CRRC ZELC), a subsidiary of the China Railway Rolling Stock Corporation Ltd. (CRRC). The transaction is pending the approval of the European and Chinese governmental authorities.
Vossloh AG (FRA:VOS) is a leading global rail technology company with annual revenues of EUR 865 million. Rail infrastructure is the core business of the Group. Vossloh Locomotives, headquartered in Kiel, Germany, develops and produces state-of-the-art shunting locomotives and offers related maintenance and repair services.
In 2014 Vossloh decided to divest its three Transportation business units in order to strategically focus on rail infrastructure. The Locomotives business unit was the last to be divested. With the completion of the current transaction, Vossloh AG will be able to fully focus operations on its core business of rail infrastructure and smart rail track.
“Clairfield’s proven contacts and knowledge of the railway industry, the specialization on noncore disposals – combined with its integrated China Desk– has been instrumental for us in realizing this divestiture. Moreover, the project team’s support in managing the complexity of this deal was of the highest quality,” said Dirk Krämer, head of corporate M&A at Vossloh.
Deal team: Albert Schander, Christopher Klemm, Konstantin Zygan
Read more here: Deal of the month Vossloh