22 Dec 2025

EQT Acquires A-Train, Operator of Arlanda Express

"Roschier advised EQT Active Core Infrastructure I on its acquisition of A-Train, operator of the Arlanda Express high-speed rail link between Stockholm and Arlanda Airport. A-Train holds a PPP concession to operate the service until 2050. The transaction is subject to customary regulatory approvals and the approval of Arlandabanan Infrastructure AB."

Roschier advised EQT Active Core Infrastructure I (EQT) on its acquisition of A-Train, the operator of the Arlanda Express, from its current shareholders. The transaction concerns A-Train, which operates the Arlanda Express, Sweden’s flagship high-speed airport rail service. The Arlanda Express connects Greater Stockholm — home to approximately 2.5 million people — with Arlanda Airport in approximately 18 minutes. A-Train operates under a public–private partnership (PPP) concession with the Swedish state, granting long-term rights to use the rail link between Stockholm and Arlanda Airport and to operate the shuttle service until 2050. The acquisition is conditional upon customary regulatory approvals and the approval of Arlandabanan Infrastructure AB. Roschier represented EQT Active Core Infrastructure I (EQT) with a team composed by: Björn Winström, Emelie Zellmer, Emil Samuelsson, Gustaf Zakrisson, Alexander Paulson, Thea Skaili, Linnéa Ceréus and Sofia Andersson.
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