04:49 PM EDT, 05/29/2025 (MT Newswires) -- Wells Fargo & Company ( WFC ) said late Thursday it has struck a deal to sell the assets of its rail equipment leasing business to a joint venture between GATX ( GATX ) and Brookfield Infrastructure.

The sale includes its entire portfolio of rail operating lease assets, representing a book value of about $4.4 billion, and the rail finance lease portfolio, the company said.

Wells Fargo ( WFC ) said the sale is not expected to have a material impact on its financial position. It expects to close the deal in Q1 2026.