Wells Fargo, the world’s largest bank by market value, agreed to buy the bulk of a railcar- and locomotive-leasing unit from General Electric as the industrial giant retreats from financial services.

The deal will make Wells Fargo’s First Union Rail division the second-largest railcar and locomotive lessor in North America, adding more than 77,000 cars and about 1,000 locomotives to its existing fleet, the bank said Wednesday in a statement. Simultaneously, GE sold tank car assets and repair facilities to Berkshire Hathaway’s Marmon Holdings. Terms weren’t disclosed for either transaction.

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