CIT exits its last business outside North America for €780M
July 06, 2017
Rail | Paris, France | Corporate Acquisition
Germany's VTG Aktiengesellschaft has agreed to acquire CIT subsidiary NACCO for €780 million. The deal for the operations and assets of the Paris-based rail-leasing company, CIT's last ongoing business outside of North America, includes approximately 14,000 rail freight cars. The transaction represents the latest move by CIT to focus operations on its core businesses.