EQT portfolio company Hector Rail AB will sell its U.K. subsidiary GB Railfreight Ltd to Infracapital, the infrastructure equity arm of M&GPrudential.
Financial terms of the deal, due to be completed in mid-October, were not disclosed.
The private equity firm will retain the remainder of Hector Rail investment, Hector Rail AB and Hector Rail GmbH, following the sale.
EQT Partners was considering selling GB Railfreight, a portfolio company in its EQT Infrastructure II fund, and had hired an adviser to gauge buyer interest, a Bloomberg News report said June 25, quoting unnamed sources.
Legal advice was given to EQT Infrastructure II by Clifford Chance LLP and Simpson Thacher & Bartlett LLP. Meanwhile, Deutsche Bank AG was its financial adviser.
London-based GB Railfreight is a rail freight transportation services provider.
EQT invests in companies across Europe, Asia and the U.S.
Infracapital invests in, builds and manages a range of infrastructure to meet the changing needs of society and support long-term economic growth.
