GATX and Brookfield Infrastructure to acquire Wells Fargo's rail equipment leasing business for $4.4bn.

GATX, a railcar lessor, and Brookfield Infrastructure Partners, a global infrastructure company, agreed to acquire Wells Fargo's rail equipment leasing business, comprising approximately 105,000 railcars under operating leases and approximately 23,000 railcars and 440 locomotives under finance leases, for $4.4bn. "This transaction is consistent with Wells Fargo’s ongoing strategy of simplifying our businesses and focusing on products and services that are core to our clients," David Marks, Wells Fargo, Executive Vice President.