WL Ross & Co. LLC has completed its acquisition of rail logistics company VTG from TUI AG.

Wilbur L. Ross, Jr., Chairman & CEO of WL Ross stated, "This is our first investment in Germany and the largest we have made in Europe. We and our lender, HypoVereinsbank, are very impressed with management's plans to grow the business and to improve its profitability."

VTG CEO Dr. Heiko Fischer said, "This transaction is a good signal for our company and all of our partners. Along with WL Ross, we can not only expand our traditional business but also provide solutions for other sectors."

The purchase price for the acquisition was not disclosed.

VTG is the largest specialized railcar and tank container leasing company in Europe with approximately 45,000 tank and freight wagons servicing mainly the transport of oil, gas, chemical and bulk products. Based in Hamburg, VTG has approximately 900 employees and operates throughout Europe with a commercial presence in 17 countries. In addition to railcar leasing, VTG also provides freight forwarding and railcar maintenance and repair services. For 2005, VTG expects to have revenues of approximately euro500 million.

Since its founding in April, 2000, WL Ross & Co. LLC has sponsored $4.5 billion of alternative investments in the steel, textiles, coal, automotive and financial services industries in the U.S., UK, France, China, Japan and Korea.