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Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) has entered into an agreement with Abellio Transport Group Limited ("Abellio UK") to acquire a 40% stake in the East Anglia franchise ("Project"). After obtaining regulatory approval, Mitsui will make the relevant capital investment and complete this transaction.
This Project operates passenger rail services in the eastern region of England, extending from southern areas around London to important regional hubs such as Cambridge and Norwich, which are expanding their populations as commuter towns. The rolling stock used for these railway services is very old, with an average age of 26 years. The full replacement of the rolling stock is planned to improve the operation of these rail services.
Abellio UK is a wholly owned subsidiary of the Nederlandse Spoorwegen N.V. Group ("NS"), the national railway of Netherlands, which operates public transportation trains and buses in the UK.
Mitsui has built up vast experience in railway infrastructure construction and freight car and locomotive leasing business in the railway industry in the Americas, Europe, Asia and others. In 2007, Mitsui participated in São Paulo Subway line No. 4 PPP, which is its first concession/PPP business for passenger railways. Furthermore, in 2014, Mitsui fully participated in the general cargo rail transportation business and the passenger railway operation in Brazil. Through these projects, Mitsui has strengthened and widened its involvement in the railway operation field and is expanding its railway business.
Mitsui intends to contribute to the development of this franchise and enhance the value of the Project by utilizing its experience and expertise. Through this Project, Mitsui will work to gain further knowledge of the UK public-private partnership model which focuses on generating passenger demand by improving the operation service, and expand Mitsui's railways business in the UK and other countries.
|Operating Term||Oct, 2016 to Oct, 2025|
|Passenger Demand||350,000 per/day
|Number of Stations served||180|
|Name of Company||Abellio Transport Group Limited|
|Head Office||Glasgow, UK|
|Capital Structure||NS 100%|
|Business Activities||Operates UK business sector of Abellio Group. Operates public transportation trains and buses in the UK.|
|Name of Company||Nederlandse Spoorwegen N.V.Group|
|Head Office||Utrecht, Netherland|
|Business Activities||Operates public transportation trains and buses, rolling stock maintenance, stations, and developing the vicinity of railways and stations in European countries.|
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.