Cross-channel rail tunnel operator Eurotunnel and French state-owned railway company SNCF have finished the acquisition of Veolia Cargo for a total of €103m.

The acquisition of European group Veolia’s rail freight subsidiary was initiated in September.

Eurotunnel’s rail subsidiary Europorte has bought the French businesses of Veolia Cargo, namely Veolia Cargo France, Veolia Cargo Link, CFTA Cargo and Socorail.

SNCF unit Transport Ferroviaire Holding has bought the freight company’s businesses in Germany, the Netherlands and Italy.

Veolia Cargo has nearly 1,260 staff, 200 locomotives and handled nearly 4.5 billion tonne-km of freight in 2008, generating a turnover of nearly €188m.