Genesee & Wyoming (GWR) Completes A$1.14B Glencore Rail Acquisition
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Genesee & Wyoming Inc. (G&W) (NYSE: GWR) announced today that Genesee & Wyoming Australia (GWA) has completed the acquisition of Glencore Rail (GRail) for A$1.14 billion and has concurrently issued a 49% equity stake in GWA to funds and clients managed by Macquarie Infrastructure and Real Assets (MIRA).
In conjunction with the acquisition of the GRail business, which includes nine train sets (30 locomotives and 894 wagons), a long-term, take-or-pay contract with Glencore Coal Pty Limited (GC) has been entered into, subject to existing agreements and certain limitations, to exclusively haul all coal produced at GC’s existing mines in the Hunter Valley to the Port of Newcastle.
The acquisition strengthens GWA’s nationwide footprint in Australia, adding a significant presence in the Hunter Valley coal supply chain and complementing GWA’s existing intermodal, agricultural and mining business in South Australia and the Northern Territory.
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