Brookfield clinches $9 bln deal to buy Genesee & Wyoming -sources [Reuters (UK)]
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Source: Reuters
Brookfield clinches $9 bln deal to buy Genesee & Wyoming -sources - Reuters 3 Min Read June 30 (Reuters) - Investment firm Brookfield Asset Management Inc has agreed to acquire U.S. freight railroad owner and operator Genesee & Wyoming Inc for close to $9 billion, including debt, people familiar with the matter said on Sunday. Genesee & Wyoming’s decision to sell itself comes after its string of acquisitions of short-line railroads made investing in the maintenance of its expanding network more expensive, amid weakness in some of its core North American markets for the transport of steam coal and agricultural products. Some buyout firms such as Brookfield specialize in helping companies they buy bankroll further acquisitions to consolidate their sectors. The deal shows Brookfield is not fazed by the uncertainty that the trade war between the United States and China has cast on Genesee & Wyoming’s business. A Brookfield infrastructure fund has agreed to pay more than $110 per share in
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