We are pleased to announce that Angel has executed agreements to procure and finance 150 new Desiro City vehicles. The trains will be leased to Stagecoach South Western Trains (“SSWT”) to supplement the existing commuter fleet and alleviate congestion in and out of London. The first of the new trains will be commissioned in 2017 with full service scheduled for early 2018.
The Desiro City, developed by Siemens, is a second generation Electric Multiple Unit (“EMU”) commuter train designed to carry more passengers and to have a significantly reduced whole life, whole system cost, meaning each unit costs less to maintain, uses less power and causes less wear and tear.
Angel already owns the largest Desiro fleet in the UK, which has delivered over ten years of service, with an excellent record of reliability. As well as complementing Angel’s diverse portfolio of over 4,500 vehicles, the new EMUs will provide a value‐for‐money and flexible solution to enable SSWT to improve rail services for its passengers.
We are delighted to have reached financial close for the project, which will strengthen Angel’s position in the strategic commuter market and generate attractive returns for the company.
This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any past, simulated or estimated performance results contain herein, and further nothing contained herein shall be relied upon as a promise by, or representation by, Arcus whether as to past or future performance results.