Aurizon has finally completed its acquisition of One Rail
Australian freight rail transport company Aurizon has finalised its acquisition of freight operator One Rail Australia.
The deal, worth $2.35 billion, covers two businesses, including the East Coast Rail (ECR) coal haulage operation in New South Wales and Queensland.
The second part of the deal includes a bulk rail haulage and general freight assets covering 2,200 kilometres across South Australia and the Northern Territory through the Tarcoola to Darwin railway line.
Aurizon says it plans to integrate the second business into its existing Aurizon Bulk operations.
The acquisition comes after the Australian Competition and Consumer Commission (ACCC) approved the move recently.
RELATED ARTICLE: ACCC approves One Rail acquisition
Aurizon is now commencing a dual-track process for the divestment, meaning Aurizon won’t be able to hold and operate the ECR until divestment, with an independent board approved by the ACCC currently holding this power.
“The One Rail acquisition is aligned with Aurizon’s growth strategy and provides the platform to expand into new markets and geographies,” Aurizon managing director and CEO Andrew Harding says.
“One Rail is a leading provider of intermodal and bulk freight in South Australia and the Northern Territory.
“In addition, it includes the 2200-kilometre Tarcoola-to-Darwin railway line, connecting regions rich in resources and agricultural commodities with Darwin, the closest port to Asia.”