On 21st March 2018, the Bundeskartellamt cleared the acquisition of CIT Rail Holdings (Europe) S.A.S. by VTG Rail Assets GmbH subject to a condition precedent. VTG and CIT are active Europe-wide in the lease of rail freight wagons. The companies may only implement the merger once they have sold a substantial part of the target company to an independent third company. NOCON has been appointed as monitoring trustee to ensure compliance with the merger remedy.