On 23 August 2011, SNCF confirmed that it had bought a 26% stake in Rail Holding AG, the parent company of the new Austrian alternative player Westbahn. Throughout the sale process, Crédit Agricole CIB acted as sole financial adviser to Westbahn. SNCF concluded this transaction without any external adviser.

SNCF will bring its expertise in operational skills and ticket retail, especially online. Westbahn will continue to be managed locally by Stefan Wehinger. A partnership agreement was also signed between SNCF and Westbahn.

The Austrian operator intends to start rail operations in December 2011, using a fleet of seven Stadler double-deck trains. Westbahn will first focus on the main Austrian rail connection:  Vienna-Linz-Salzburg, and plans further developments.

For Stefan Wehinger, Chief Executive Officer of Westbahn: "This participation agreement concluded with SNCF makes us stronger. I would like sincerely to thank Crédit Agricole CIB’s teams for their professional commitment throughout the sale process until the happy end. We were a great team!"




"Crédit Agricole CIB is very pleased to support an innovative rail company like Westbahn in all its development’s major steps. In 2009, Westbahn and Crédit Agricole CIB received together the “Rail Finance Deal of the Year - Europe” (Jane’s Transport Finance) for a Swiss export lease for the Austrian operator. This new transaction confirms also the complementary expertise of Crédit Agricole CIB’s Rail Financing and Mergers & Acquisitions teams" comments Olivier Desfontaines, Head of Rail Finance Group- Europe.