Pentalver Transport owner Genesee & Wyoming (G&W) is being acquired by Brookfield Infrastructure Partners in deal valued at $8.4bn (£6.6bn).
G&W owns or leases 120 freight railroads and has approximately 8,000 employees in North America, Australia and Europe.
In the UK it owns Freightliner and following a 2017 deal, Pentalver Transport. The latter was rebranded following the deal to feature the G&W logo.
“This is a rare opportunity to acquire a large-scale transport infrastructure business in North America,” said Sam Pollock, CEO of Brookfield Infrastructure.
“G&W will be a significant addition to our global rail platform and will expand our presence in this sector to four continents.
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“Brookfield Infrastructure is well suited to work with the company to continue to improve the business, given our significant experience owning and operating rail, ports and other large scale, transportation infrastructure businesses.”
The transaction is expected to close by year end or early 2020 and is subject approval by G&W stockholders. It will see G&W, which is listed in the US, taken private.
The deal has been recommended by the G&W board.
