• Kyodo

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Sumitomo Mitsui Banking Corp. said Tuesday that it will buy U.S. freight car leasing firm American Railcar Leasing LLC for roughly $2.8 billion, eyeing a boost in its earnings on the brighter U.S. economic outlook.

The Japanese bank plans to acquire all shares in the Missouri-based company from an investment fund by June 2017. It is considering merging American Railcar Leasing with another freight car leasing firm it bought in December 2013.

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