Genesee & Wyoming (GWR) Completes A$1.14B Glencore Rail Acquisition
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Genesee & Wyoming Australia Completes Acquisition of GRail, Issues 49% Equity Stake
December 1, 2016 6:00 AM ESTDARIEN, Conn.--(BUSINESS WIRE)-- 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... More
