December 19, 2016 / 5:56 PM / in 7 months

Icahn to sell American Railcar to SMBC Rail

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Dec 19 (Reuters) - Icahn Enterprises LP said on Monday it would sell wholly owned subsidiary American Railcar Leasing LLC to SMBC Rail Services LLC in a deal based on an enterprise value of $2.78 billion and a fleet of about 29,000 railcars.

SMBC, part of Japan's Sumitomo Mitsui Financial Group Inc , will have an option to buy additional 4,800 railcars for about $586 million, Icahn Enterprise said. (Reporting by Rachit Vats in Bengaluru; Editing by Sriraj Kalluvila)

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