Trading house Mitsui & Co. said on Wednesday it has reached an agreement to acquire a 40 percent stake in a British rail franchise from a subsidiary of the Dutch national railway.
Both Mitsui and Abellio Transport Group Ltd., a wholly owned subsidiary of the Nederlandse Spoorwegen NV Group, declined to reveal the value of the deal, which is subject to final regulatory approval.
Under the deal, Mitsui is taking part in the East Anglia franchise passenger rail operation in eastern England, extending from southern areas around London to such regional hubs as Cambridge and Norwich.
Mitsui has built up experience in railway infrastructure construction and freight car and locomotive leasing businesses in many countries. It has also participated in the general cargo rail transportation business and passenger railway operations in Brazil.
"Mitsui intends to contribute to the development of this franchise and enhance the value of the project by utilizing its experience and expertise," it said in a statement.