Genesee & Wyoming Inc. (G&W) is aware of the complaint filed in New South Wales (Australia) seeking an award of damages in connection with a right of first refusal provision in a commercial contract involving its majority-owned Australian subsidiary.
The company disputes the allegations made in the complaint and intends to defend itself appropriately. The company undertakes no obligation to provide further updates and does not intend to comment further regarding the aforementioned matter.
As previously disclosed, the company expects the transaction pursuant to which affiliates of Brookfield Infrastructure and GIC will acquire the company to close by year end or early 2020, subject to customary closing conditions.
G&W’s Australia Region serves New South Wales, the Northern Territory and South Australia, and operates the 1400 mile Tarcoola-to-Darwin rail line. The Australia Region is 51.1% owned by G&W and 48.9% owned by a consortium of funds and clients managed by Macquarie Infrastructure and Real Assets.
Read the article online at: https://www.drybulkmagazine.com/rail-barge/18092019/genesee-wyoming-issues-statement-on-aurizon-complaint/