France: Kretinsky and CMA CGM Named Frontrunners for SNCF's Rail Logistics Europe Stake

SNCF is advancing the sale of a minority stake in Rail Logistics Europe (RLE), the holding company for its rail freight operations including the Hexafret freight business, with four candidates now competing for the stake, French trade outlet RailFreight.com reported on 24 July 2026, citing people familiar with the selection process.

Among the named frontrunners are Daniel Kretinsky, the Czech entrepreneur whose EP Group spans energy and retail interests, and French container shipping line CMA CGM. RailFreight.com said two further candidates remain in the running but did not identify them.

The stake under discussion is valued at around €800 million, according to the report. SNCF first confirmed in February 2026 that it was weighing a sale of a minority stake in RLE, and has since retained Lazard to run the process, according to earlier reporting by Bloomberg and MarketScreener.

Neither SNCF, Kretinsky's EP Group nor CMA CGM has commented publicly on the frontrunner status, and RailFreight.com did not report a timeline for a final decision.