GIC joins consortium to acquire US railroad firm for US$8.4b

G&W owns a portfolio of 120 short line railroads across North America, Europe, and Australia.

GIC and Canada-based Brookefield Infrastructure have partnered to acquire US-headquartered Genesee & Wyoming, a railroad firm, for US$8.4b ($11.39b).

The transaction will result in G&W becoming a privately held company.

G&W owns a portfolio of 120 short line railroads, predominantly in North America, with operations in Europe and Australia. Through its subsidiaries worldwide, the business provides transportation infrastructure services over more than 26,000 kilometers of track, providing access to its well-diversified customer base.

Also read: GIC eyes investing $1b in India's road assets

According to the announcement, Brookfield Infrastructure’s investment will be approximately $677.93m (US$500m) of equity. The remainder of the business will be owned by Brookfield Infrastructure’s institutional partners and GIC. Brookfield Infrastructure’s investment will be funded from existing liquidity which totaled approximately $2.58b (US$1.9b) as of 30 June.

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