Infrastructure asset management company Brookfield Infrastructure Partners, Government of Singapore Investment Corporation (GIC) and some other institutional investors are acquiring freight railway owner and operator Genesee & Wyoming.
In a transaction valued at $8.4 billion including debt, Brookfield will invest in around $500 million of equity of Genesee & Wyoming, while the remaining stock will be owned by Brookfield Infrastructure's institutional partners and GIC.
The deal is expected to close by year-end 2020, subject to approvals from regulators and Genesee & Wyoming shareholders.
Genesee & Wyoming owns or leases 120 freight railroads across eight locally managed operating regions, and serves 3,000 customers.