GATX acquires ~101,000 railcars for $4.2B via JV with Brookfield; holds call options for full control

GATX CORP

GATX forms GABX JV with Brookfield; initial ownership 30% ($385.3M equity), with annual call options to acquire up to 100%.
GABX financed $2.959B via term loan; GATX guarantees debt. Also directly purchased ~200 locomotives from Wells Fargo.
Pro forma net income attributable to GATX $333.9M vs $333.3M historical; EPS $9.16 diluted vs $9.12 diluted.
GATX will manage the railcars and locomotives in both GABX and finance lease portfolio purchased by Brookfield.
Historical Wells Fargo Rail carved-out financials filed; pro forma reflects asset acquisition method.

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