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Rail News: M&A
10/2/2008
Rail News: M&A
Genesee & Wyoming acquires Georgia Southwestern
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A little less than two months after swinging a deal to acquire the Ohio Central Railroad System and its 10 short lines, Genesee & Wyoming Inc. (GWI) has landed another one to acquire a Georgia short line.
Yesterday, GWI announced it acquired the Georgia Southwestern Railroad Inc. for cash consideration of about $16.5 million and the assumption of about $5.4 million in debt.
The 220-mile Georgia Southwestern operates between White Oak, Ala., and Smithville, Ga.; Cuthbert and Bainbridge, Ga.; and in and around Columbus, Ga. The short line connects to GWI's Chattahoochee Industrial Railroad in Saffold, Ga., via trackage rights, and interchanges with Norfolk Southern Railway, CSX Transportation and the Heart of Georgia Railroad.
Georgia Southwestern — which moves about 10,000 carloads annually — will be managed as part of GWI's Southern Region under Senior Vice President Gerald Gates.
GWI also announced that it completed the Ohio Central acquisition for about $234.3 million in cash. The company now owns and operates 63 regionals and short lines in the United States, Canada, Australia and the Netherlands, and owns a minority interest in a Bolivian railroad.
Yesterday, GWI announced it acquired the Georgia Southwestern Railroad Inc. for cash consideration of about $16.5 million and the assumption of about $5.4 million in debt.
The 220-mile Georgia Southwestern operates between White Oak, Ala., and Smithville, Ga.; Cuthbert and Bainbridge, Ga.; and in and around Columbus, Ga. The short line connects to GWI's Chattahoochee Industrial Railroad in Saffold, Ga., via trackage rights, and interchanges with Norfolk Southern Railway, CSX Transportation and the Heart of Georgia Railroad.
Georgia Southwestern — which moves about 10,000 carloads annually — will be managed as part of GWI's Southern Region under Senior Vice President Gerald Gates.
GWI also announced that it completed the Ohio Central acquisition for about $234.3 million in cash. The company now owns and operates 63 regionals and short lines in the United States, Canada, Australia and the Netherlands, and owns a minority interest in a Bolivian railroad.
