GATX Corporation and Brookfield Infrastructure completed the acquisition of Wells Fargo’s rail operating lease portfolio, adding about 101,000 railcars in a transaction valued at approximately $4.2 billion. The deal expands GATX’s North American railcar fleet and is expected to be modestly accretive to earnings in the first full year after closing.

Brookfield Infrastructure separately acquired Wells Fargo’s rail finance lease portfolio, while GATX will manage the rail assets within the joint venture.