SNCF AND DWS BEGIN EXCLUSIVE NEGOTIATIONS WITH CDPQ ON THE PROPOSED SALE OF AKIEM

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PARISFRANKFURT and MONTREAL, August 1, 2022 /PRNewswire/ – Following a competitive bidding process, Akiem shareholders have agreed to enter into exclusive negotiations with CDPQ on the proposed sale of Akiem, a leading provider of freight locomotive leasing services in France and Europe.

With a turnover of nearly 220 million euros, an EBITDA of around 150 million euros in 2021, a fleet of more than 600 locomotives, 46 passenger trains and some 250 employees, Akiem is a European leader rental and maintenance of locomotives. Based at France with 7 international offices, Akiem provides local expertise to more than 80 clients in 21 countries. The company has the largest fleet on the continent, 75% of which is electric, a share that is expected to increase in the coming years.

CDPQ’s offer is subject to the customary consultation of the employee representative bodies of the SNCF Group and Akiem. Furthermore, this operation is subject to the approvals of certain competition authorities.

Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at the CDPQ, says: “La Caisse is delighted to acquire Akiem, a major European player in the rail sector, and looks forward to working with its team to take the company to the next stage of its growth. Akiem’s ​​size and positioning across the entire value chain, including maintenance, gives it a significant competitive advantage to benefit from the expected growth of the locomotive leasing market across Europe. With three quarters of its fleet already running on electricity, Akiem provides a sustainable response to the challenges of decarbonizing transport, a solution that appealed to us from the start.”

Laurent Trevisani, Deputy Managing Director Financial Strategy, SNCF Group, adds“This planned disposal of Akiem is fully in line with the SNCF Group’s strategy to become a world leader in the sustainable mobility of people and goods, with the rail industry as its core business and two strategic assets: GEODIS and KEOLIS Once the definitive agreements have been concluded, this operation will make it possible to finance our main activities and the Group’s future growth while accelerating debt reduction, it also provides Akiem with the backing of a long-term partner and ensures the sustainability of this company, which will remain a commercial partner of SNCF. We thank the Akiem teams for their involvement over the past few years and will continue to support them in the various stages of this project.”

Hamish Mackenziehead of infrastructure at DWS, says: “Since taking a stake in Akiem in 2016, DWS has supported management’s strategic growth ambitions through its active asset management approach combined with the railway expertise of its partner SNCF. Akiem’s ​​success during our investment reflects the quality of its management team and their record unrivaled follow-up in the European locomotive leasing market, as well as the quality of our long-term partnership with SNCF. We wish Akiem and his teams every success in this project.”

Fabien Rochefort, CEO of the Akiem group, says: “This acquisition is a new step following a very fruitful collaboration between Akiem and its shareholders, SNCF and DWS. We welcome CDPQ’s commitment, which will allow Akiem to continue to invest to support its long-term growth in the European locomotive and passenger market. train rental markets. As rail operators face growing demand for more environmentally friendly transport in a complex environment, Akiem provides its customers with durable, solid and reliable rolling stock. We intend to continue to innovate and develop our operational and industrial expertise for the benefit of our customers.”

ABOUT THE SNCF GROUP

SNCF is a world leader in passenger and freight transport services, including the management of the French rail network, with a turnover of 34 euros8 billion in 2021, of which a third on international markets. The Group is present in 120 countries and has 270,000 employees, including 208,000 in France and more than half in its core rail business. The new Group, a public limited company which started operating on January 1, 2020, consists of a parent company (SNCF) and five subsidiaries: SNCF Réseau (management, operation and maintenance of the French rail network, plus railway engineering) with its own subsidiary SNCF Gares & Connexions (management and development of stations); SNCF Voyageurs (Transilien, TER and Intercités; INOUI, OUIGO, Eurostar, Thalys, Alleo, Lyria and distribution with SNCF Connect); Keolis (French and global operator of urban, suburban and regional public transport); RAILWAY LOGISTICS EUROPE (rail freight); and Geodis (goods transport and logistics solutions). The SNCF group works in close collaboration with its customers – passengers, local authorities, shippers and rail operators using SNCF Réseau services – and with local authorities, relying on its expertise in all railway businesses and in all modes of transport to provide simple, fluid and sustainable solutions for all mobility needs. To learn more, sncf.com.

ABOUT DWS

DWS Group (DWS) with 833 billion euros assets under management (at June 30, 2022) aspires to become one of the world’s leading asset managers. Drawing on over 60 years of experience, it has a reputation for excellence in Germany, Europethe Americas and Asia. DWS is recognized by clients around the world as a trusted source of integrated investment solutions, stability and innovation across a wide range of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities in all major liquid and illiquid asset classes as well as solutions aligned with growth trends. Our diverse expertise in active, passive and alternative asset management – ​​as well as our deep focus on environmental, social and governance – complement each other when creating targeted solutions for our clients. Our expertise and the on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in a cohesive global view of the CIO, which strategically guides our investment approach.

DWS wants to innovate and shape the future of investing. With approximately 3,600 employees in offices around the world, we are local yet a global team. We are investors responsible for building the best foundations for the future of our clients.

ABOUT CDPQ

At the CDPQ, we invest constructively to generate long-term sustainable returns. As a global investment group managing funds for public pension and insurance schemes, we work alongside our partners to build companies that drive performance and progress. We are active in the main financial markets, private equity, infrastructure, real estate and private debt. Like a December 31, 2021, the CDPQ’s net assets amounted to CAD 419.8 billion. For more information, visit cdpq.comfollow us on Twitter or see our Facebook Where LinkedIn pages.

CDPQ is a registered trademark owned by the Caisse de depot et placement du Québec and used under license by its subsidiaries.

SOURCECDPQ

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