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Having completed the sale of Genesee & Wyoming Australia, the freight rail operator is now known as One Rail Australia.
The name change was published by the Australian Business Register on February 18, and follows a change of ownership for the operator.
The company has operated freight rail services in South Australia, the Northern Territory, and the Hunter Valley, and Genesee & Wyoming Australia also previously operated services in Western Australia in a joint venture with Wesfarmers.
Until 2019, Genesee & Wyoming Australia’s US parent company owned 51.1 per cent of the Australian arm of the business. The other 48.9 per cent is owned by a consortium of funds and clients, managed by Macquarie Infrastructure and Real Assets.
The announcement in December finalised the sale of the US parent company to Canadian investment fund Brookfield Infrastructure and Singaporean investment firm GIC.
The transaction’s total value for the entire Genesee & Wyoming business is approximately $8.4 billion.
The Australian portion of the sale had to be completed separately due to Brookfield already owning rail assets in Australia. Macquarie Infrastructure and Real Assets and Dutch pension manager PGGM will own the remainder of the company previously owned by Genesee & Wyoming’s US parent company.
According to reports, One Rail Australia will retain the Genesee & Wyoming livery however with a new logo.
In the US, Genesee & Wyoming is known for owning a number of short line railroads. The company also has operations in the UK and Europe.
The post New name for Genesee & Wyoming Australia appeared first on Rail Express.
This article first appeared on www.railexpress.com.au
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