Connect with us

Hi, what are you looking for?

Jewish Business News


Carl Icahn to Sell American Railcar For Up to $3.4 Billion

American Railcar Leasing to be sold to a unit of Sumitomo Mitsui Banking Corp.



Activist investor Carl Icahn‘s investment firm, Icahn Enterprises LP sell its wholly-owned subsidiary American Railcar Leasing (ARL) to SMBC Rail Services. Under the terms of the deal, Icahn Enterprises will receive cash based on an enterprise value of $2.78 billion and a fleet of 29, 000 railcars.

Founded in 2004 and based in Saint Charles, Missouri, ARL manages over 40, 000 railroad tank and covered hopper cars and serves the petroleum, chemical, food, agriculture, fertilizer and plastic pellet markets.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

SMBC, a subsidiary of Sumitomo Mitsui Banking Corp, will have an option to buy an additional 4, 800 railcars for approximately $586 million, three years after the expected close in in the second quarter of 2017.

Carl Icahn


The additional purchase would take the total acquisition price to $3.36 billion.

“I have been in the railcar business for over 30 years. During that time we have built one of the leading railcar fleets in the world.  In fact, if lined up, ARL’s fleet would stretch from New York City to the middle of Ohio, ” said, Carl Icahn, chairman of Icahn Enterprises.

”I am very proud of the business we have built at ARL and am pleased that SMBC Rail Services also sees the tremendous value in this business.  This transaction is a good example of how Icahn Enterprises delivers substantial returns for our equity holders, ” he added.




You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News