SNCF Enters Into Exclusive Negotiations With a Consortium Consisting of Caisse De Dépôt Et Placement Du Québec (CDPQ) and a Fund Managed by DWS Group (DWS) With Regards to the Sale of Its Subsidiary Ermewa
Summary
With its headquarters in France and with 40 international offices, the Ermewa Group offers local expertise to customers from industries as diverse as steel, energy, construction, mining, food and beverage, and transportation. This operation would also accelerate the groups debt reduction and pursue the objective of maintaining its financial trajectory, while backing Ermewa with long-term partners, able to ensure the sustainability of the companys activity, which would remain a commercial partner of SNCF.” Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ, said: “CDPQ is thrilled by the opportunity to invest in Ermewa, a French and European leader that is ideally positioned to leverage existing trends – including the development of rail freight and the decarbonization of goods transportation – which are aligned with our portfolio’s carbon-intensity reduction targets. The combined experience of CDPQ and DWS in the rail sector and our long-term investing approach would enable Ermewa and its high-quality team to play an even larger role in developing the business in Europe and globally." Hamish Mackenzie, Head of Infrastructure at DWS, said: "We are very pleased and proud to be able to accompany Ermewa in a new phase of its development, and to commit ourselves alongside this key player in the rail freight industry to strengthen its competitiveness and influence. Ermewa has many strengths and the potential to become a European and world leader that will be able to meet the expectations of its customers and partners, first and foremost SNCF, but also to take a leading role in addressing the challenge of sustainable freight transportation.