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Aurizon welcomes today’s decision by the Australian Competition and Consumer Commission (ACCC) to approve Aurizon’s acquisition of One Rail Australia (ORA).
As part of its approval, the ACCC has accepted Aurizon’s undertaking to divest ORA’s east coast rail haulage business (ECR) as part of the transaction. Further information, including in relation to the ACCC’s decision and the terms of Aurizon’s undertaking, is available on the ACCC’s public register. As all conditions precedent have now been satisfied, Aurizon will work to finalise the acquisition of ORA, with completion expected to occur by the end of July 2022.
The ORA business comprises bulk rail haulage and general freight assets in South Australia and the Northern Territory; the 2,200km Tarcoola-to-Darwin railway line; and the ECR haulage business in New South Wales and Queensland.
Aurizon will integrate the ORA bulk rail haulage and general freight assets and the Tarcoola-to-Darwin railway line into its existing Bulk business.
As part of the undertaking with the ACCC the ECR business will be divested, with a dual track process for trade sale and demerger to commence immediately after completion of the transaction (end July).
“The One Rail acquisition will be transformative for Aurizon, as we grow the business into new geographies and future-facing markets,” Managing Director & CEO Andrew Harding said. “The transaction secures one of Australia’s most important infrastructure assets, connecting regions rich in resources and agricultural commodities with Darwin, the closest port to Asia.”
“In addition, the business includes bulk haulage operations, facilities and a 400-strong workforce in South Australia and the Northern Territory to serve existing customers and growth opportunities in base metals, agriculture, iron ore and for neweconomy metals such as manganese and copper.”
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