Aurizon completes acquisition of One Rail Australia
Published by Jessica Casey,
Aurizon has completed the acquisition of One Rail Australia (ORA) for AUS$2.35 billion.
The acquisition includes two distinct businesses:
- Bulk rail haulage and general freight assets in South Australia and the Northern Territory, together with the 2200 km Tarcoola-to-Darwin railway line. Aurizon will integrate this business into the existing Aurizon Bulk business.
- A coal haulage business in New South Wales and Queensland, known as East Coast Rail (ECR). ECR will be divested under the terms of an undertaking given to the Australian Competition and Consumer Commission (ACCC). Aurizon has commenced a dual track process for the divestment, to be completed via a trade sale or demerger. Until divestment, ECR will be held and operated separately to Aurizon, with an independent Board and management and an independent manager approved by the ACCC.
In October 2021, Aurizon announced it had signed an agreement with Macquarie Asset Management to acquire ORA. The last of the conditions precedent was finalised on 14 July 2022 with the ACCC decision not to oppose the acquisition.
“The One Rail acquisition is aligned with Aurizon’s growth strategy and provides the platform to expand into new markets and geographies,” said Andrew Harding, Aurizon Managing Director & CEO.
“One Rail is a leading provider of intermodal and bulk freight in South Australia and the Northern Territory. In addition, it includes the 2200 km Tarcoola-to-Darwin railway line, connecting regions rich in resources and agricultural commodities with Darwin, the closest port to Asia.”
“The One Rail acquisition will be transformative for Aurizon, delivering the scope and scale with new customers, new regions and greater exposure to new economy commodities such as copper, manganese and rare earths.”
Read the article online at: https://www.drybulkmagazine.com/rail-barge/08082022/aurizon-completes-acquisition-of-one-rail-australia/
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