Under the terms of the sale, each G&W common stock share was converted into the right to receive $US 112 in cash and G&W’s common stock ceased trading on the New York Stock Exchange.
“This transaction is an excellent outcome for all G&W stakeholders,” says Mr Jack Hellmann, CEO of G&W. “For our customers, employees, and Class I partners, the long-term investment horizon of Brookfield and GIC is perfectly aligned with the long lives of G&W railroad assets.”
G&W owns or leases 119 freight railways in North America, Australia and Europe. G&W’s North American networks serve 42 US states and four Canadian provinces and include 113 short line and regional freight railways covering more than 20,920 track-km.
In Australia, G&W serves New South Wales, the Northern Territory and South Australia and operates the 2250km Tarcoola - Darwin line. Network ownership is split with 51.1% owned by G&W and 48.9% owned by a consortium of funds and clients managed by Macquarie Infrastructure and Real Assets.
In Europe, G&W owns Freightliner and Rotterdam Rail Feeding.
Brookfield Infrastructure Partners is a global infrastructure company which owns assets in the utilities, transport, energy and data infrastructure sectors in North and South America, Asia and Europe. GIC is an international investment company based in Singapore with investments in equities, property and infrastructure.