Pamplona buys British trains

Investment manager Pamplona Capital Management is to buy UK train leasing company Beacon Rail for around $450m (£265m) from a subsidiary of Japan’s Mitsubishi UFJ Financial Group. Beacon owns 77 locomotives, 632 freight wagons and 20 passenger trains, which it leases out to rail operators and freight transport firms. The deal follows KKR’s investment in European Locomotive Leasing back in March.