The news is already two weeks old, but still interesting. The Royal Bank of Scotland, urgently needing fresh capital, has sold Angel Trains Cargo, to a consortium of investors for £3.6 bn. This consortium includes the Babcock & Brown European Infrastructure Fund, Australian investment manager AMP Capital Investors, Deutsche Bank and pension funds advised by Access Capital Advisers. Note that Babcock & Brown is already active on the European leasing market for railway vehicles, as it also owns CB Rail. This company is a joint venture of B&B and the English HBOS. It is expected that the Angel Trains transaction will be completed by the end of 2008. - Railwaygazette