Kramer Levin Guides $1.1B Sale Of US Rail Leasing Co.

Law360, New York (December 12, 2013, 11:55 AM EST) -- A unit of Perella Weinberg Partners LP sold off its U.S. rail leasing portfolio company Flagship Rail Services LLC to Japan's Sumitomo Mitsui Banking Corp. in a deal worth $1.1 billion, the private equity firm said Thursday.

Under the terms of the deal, SMBC will pick up all of Flagship Rail's membership shares through its lending arm, SMBC Leasing and Finance Inc., from Perella Weinberg Partners' Asset Based Value Strategy, according to a statement. SMBC plans to rebrand the company as SMBC Rail Services LLC....
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