GATX and Brookfield Infrastructure JV to acquire 105,000 railcars from Wells Fargo for $4.4B

GATX CORP

• JV initially owned 30% GATX, 70% Brookfield; GATX has annual call options to acquire up to 100% over ~10 years.
• GATX will manage the acquired fleet; also directly buys 223 locomotives from Wells Fargo.
• Financing includes a $3.2B fully underwritten 5-year term loan and $250M revolver from four banks.
• Closing expected Q1 2026, subject to regulatory approvals; termination fee of $275M if JV fails to fund.
• Transaction modestly accretive to EPS in first full year; GATX's credit metrics expected generally unchanged.