Third Rosco Sold To Bank - Porterbrook Leasing sold to Abbey National - Brief Article

International Railway Journal, May, 2000

STAGECOACH Holdings, Britain, has sold its rolling stock leasing company (Rosco) subsidiary, Porterbrook, to Abbey National, a British bank, for [pounds]773 million.

Porterbrook will become part of Abbey National's Wholesale Bank which already conducts finance leasing for trains, including Eurostar, and other assets such as aircraft, ships, and satellites.

Porterbrook was the last of the three original Roscos, which were privatised in 1996, not to have been purchased by a bank. Eversholt was taken over by HSBC and Angel Trains by the Royal Bank of Scotland in 1997.