The $8.4 billion sale of Darien-based freight railroad operator Genesee & Wyoming to affiliates of Brookfield Infrastructure and GIC has been completed. As a result, G&W will no longer be listed for trading on the New York Stock Exchange.
Announced last July, the transaction involved converting each issued and outstanding share of G&W common stock into $112 in cash.
G&W CEO Jack Hellmann called the transaction “an excellent outcome for all G&W stakeholders. 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.”
Genesee & Wyoming owns or leases 119 freight railroads organized in locally managed operating regions with 8,000 employees serving 3,000 customers. Its six North American regions serve 42 U.S. states and four Canadian provinces and include 113 short line and regional freight railroads with more than 13,000 track-miles. It also has operations in Australia, the U.K. and continental Europe.
Brookfield Infrastructure owns and operates assets in the utilities, transport, energy and data infrastructure sectors across North and South America, Asia Pacific and Europe. Global investment firm GIC operates across such asset classes as equities, fixed income, private equity, real estate and infrastructure.
