RBS flogs Rosco

***Royal Bank of Scotland has offloaded Angel Trains for £3.6bn to a consortium led by Babcock & Brown***

BBC story here

UPDATE: Sources indicate that RBS is very pleased with the price paid by Babcock and Brown.

Apparently the business was packaged in three lots: MOLA fleets (ex BR stock), New Trains and Angel's unregulated European business.

The strong price would indicate that B&B and it's advisors are pretty confident that the Competition Commission enquiry into the ROSCOs will not impact dramatically on MOLA lease rates going forward.

The Fact Compiler is not surprised, with a National Rolling Stock Shortage where else would the railway get alternative vehicles to meet current demand. Suggestions that DafT have asked the MOD to release the "Strategic Reserve" have been denied.