Angel Trains

Angel Trains is the largest of the three major ROSCOs (Rolling Stock Companies) in the United Kingdom. Created in 1994 as part of the privatisation of British Rail, it owns around a third of passenger railway locomotives, multiple units and coaching stock running on Network Rail's system which it leases to various train operators. Like its fellow ROSCOs (HSBC Rail & Porterbrook) Angel Trains was owned by a major banking group, in this case Royal Bank of Scotland Group who acquired Angel Trains in December 1997 from a division of Nomura Holdings for £395 million. On June 13, 2008 Royal Bank of Scotland announced that it was selling Angel Trains for £3.6 billion to a group led by Babcock & Brown.


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