Angel Trains Sale Announcement Expected Tomorrow

21.04.2008 (17:07)

UK-based Royal Bank of Scotland (RBS) is set to announce the £3.5bn sale of rolling stock leasing company Angel Trains, including a £10bn-plus rights issue, The Times reports according to Railway Technology.

RBS board members and the bankers advising them were in talks yesterday to finalise the bank's fund-raising plans, expected to be approved by a full board meeting today.

It is believed that Angel Trains has been sold to a consortium led by the investment firm Babcock & Brown and backed by Deutsche Bank, writes the newspaper.

In February this year, Angel Trains announced the start of a new wagon leasing business to run alongside its passenger train and freight locomotive leasing businesses in both the UK and mainland Europe.