|
|
Article: Genesee & Wyoming Inc. Completes Sale of Western Australia Assets and Acquisition of Remaining 50 Percent of South Australia Operations.
- Article from:
- PR Newswire
- Article date:
- June 2, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
GREENWICH, Conn., June 2, 2006 /PRNewswire-FirstCall/ -- Genesee & Wyoming Inc. (GWI) announced today that, effective June 1, 2006, GWI and its joint venture partner, Wesfarmers Limited (Wesfarmers), completed the previously announced sale of their Western Australia operations and certain other assets of the Australian Railroad Group (ARG) to Queensland Rail and Babcock & Brown Limited for A$1.3 billion (US$971 million at current exchange rates), plus certain completion adjustments currently estimated to be A$19 million (US$14 million). ARG was 50 percent-owned by GWI and 50 percent-owned by Wesfarmers.
GWI also completed the previously announced acquisition of ...