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Rail News Home M&A

10/17/2006



Rail News: M&A

CIT Rail acquires Bombardier's rail-car leasing division


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CIT Group Inc. subsidiary CIT Rail recently acquired the assets of Bombardier Inc.’s rail-car leasing business. The deal closed on Oct. 2.

The acquisition will increase CIT’s fleet by almost 15,000 cars to about 102,000 freight cars. The deal also will expand the firm’s customer base, adding 250 leases from more than 100 companies to CIT’s portfolio.