SNCF, Eurotunnel Team Up To Acquire Veolia Cargo
SNCF would take over the rail companies based in Germany, the Netherlands and Italy
French railway operator Societe National des Chemins de Fer (SNCF) and channel tunnel operator Groupe Eurotunnel have teamed up to acquire Veolia Cargo, the rail freight businesses of the Veolia group.
Veolia Cargo, a Europen private rail freight operator, has a presence in Germany, Benelux and France. Groupe SNCF has taken over the rail companies based in Germany, the Netherlands and Italy, while Groupe Eurotunnel is acquiring the French branch of Veolia Cargo (Socorail, Veolia Cargo France, Veolia Cargo Link and CFTA Cargo).
The transaction would strengthen SNCF's rail network in Europe, especially in the Netherlands and Germany.
Pierre Blayau, deputy CEO of SNCF and head of the SNCF-Geodis division, said: This acquisition is part of our drive to develop rail freight, notably by intensifying international links for full train loads in Europe. For example, we will be able to directly operate trains between Rotterdam and France to meet the growing needs of our customers in this area.
Jacques Gounon, chairman and CEO of Eurotunnel, said: I am very pleased that our offer, presented in partnership with the SNCF group, was selected by Veolia. It marks a decisive step in the development of Europorte 2 and the sustainable growth of Groupe Eurotunnel. From a strategic point of view, the rail freight sector holds great potential for the future, particularly in light of environmental considerations.
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