The sale was arranged as part of an agreement between the European Commission and the French government, related to the division of Fret SNCF due to suspicions that the company had received billions of euros in illegal state aid.

RLE holds a leading position in the French rail freight market. The group includes subsidiaries such as Hexafret, Captrain France, VIIA, Naviland Cargo, Forwardis, and Technis.

Among the potential buyers for a stake in the company are Czech entrepreneur Daniel Křetínský, who owns the parent company of pan-European parcel operator GLS and the British postal service Royal Mail, the German logistics group Rhenus, as well as an unnamed private equity fund.

Earlier this year, the French state railway brought in two investment banks to oversee the deal. Lazard and Indosuez Corporate Advisory sent a presentation to potential buyers, valuing the stake at around 800 million euros.

CMA CGM and Rhenus Logistics were also invited to participate in the process. Rhenus Logistics already operates in France, and its shareholder—the Reimann family—last year acquired a controlling stake in Transdev, a French group managing transport systems, including railways.

Potential buyers have been informed that their stake cannot exceed 49%, as SNCF will retain a controlling interest in RLE. Exceeding this threshold is considered impossible due to the social and political sensitivity of the issue.

Among the options under consideration, the French government favors CMA CGM. Rhenus is also seen as a possible buyer, but Křetínský's participation is viewed skeptically, given that RLE handles at least 80% of the French armed forces' transport operations.

Marseille-based CMA CGM is pursuing a strategy to expand its multimodal freight services, including rail. Earlier this year, the company completed the acquisition of British rail freight operator Freightliner, expanding its intermodal services and acquiring more than 2,000 wagons, 10 terminals, and one of the largest fleets of electric locomotives in the country. In addition, CMA CGM operates rail services between Marseille and Lyon in southern France.