Genesee & Wyoming Inc announced that it has completed the acquisition of approximately 94% of Freightliner Group Limited (Freightliner) for approximately £492 million (USD 733 million), plus the assumption of approximately £19 million (USD 29 million) of net debt and capitalized leases. Members of the existing Freightliner management team will retain an approximate 6% economic interest in Freightliner, with G&W to have 100% by mid-2020.
In connection with the Freightliner acquisition, G&W also entered into a new five-year senior secured credit facility comprised of a USD 2.175 billion term loan and a USD 625 million revolving credit facility. G&W expects to have approximately USD 475 million of revolver capacity after the Freightliner closing.
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