Genesee & Wyoming Australia has completed the acquisition of Glencore Rail (GRail) for A$1.14 billion (USD 849.6 million) 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.
Genesee & Wyoming owns or leases 121 freight railroads worldwide that are organized in 10 operating regions with approximately 7,200 employees and more than 2,800 customers.
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