Posts Tagged ‘Genesee & Wyoming acquisition’

G&W Subsidiary to Acquire Ohi-Rail

January 23, 2020

The Mahoning Valley Railway has filed noticed with the U.S. Surface Transportation Board that it plans to acquire Ohi-Rail, a short-line carrier based in Minerva.

The noticed, filed on Jan. 17, seeks an exemption from certain regulations as provided by federal law to consummate the purchase of 44.7 miles of Ohi-Rail track in Carroll, Stark, Columbiana, Jefferson, and Harrison counties.

The Mahoning Valley is a subsidiary of Genesee & Wyoming. The STB filing did not disclose the purchase price of the transaction but said G&W and Ohi-Rail have executed an asset purchase agreement to acquire the rail lines.

A map included in the filing shows that the track in question includes the Tuscarawas Industrial Track between Minerva and Bayard, the Tuscarawas Secondary Track between Minerva and Pekin, a route between Minerva and Hopedale, and the Wolf Run Branch between Philips and East Springfield.

MVRY said in the filing that it expected to begin operations on the Ohi-Rail network “upon the closing of the acquisition, which will occur following the date on which this Notice of Exemption is effective.”

The filing noted that if the exemption is granted that the transaction would not be subject to labor protection conditions, and would not require environmental and historic reports.

MVRY said the agreement does not include an interchange commitment and that the projected revenues from taking over Ohi-Rail lines will not exceed the threshold that qualifies MVRY as a Class III carrier.

The MVRY asked the STB to issue a notice allowing the acquisition to become effective 30 days from the filing of the notice of exemption.

G&W Acquisition Completed

December 31, 2019

Brookfield Infrastructure and GIC announced this week that they have completed their acquisition of railroad short line holding company Genesee & Wyoming.

The transaction will take G&W private, with each share of stock receiving $112 in cash.

G&W operates 113 short lines in 42 states and four Canadian provinces. Among its holdings are the Ohio Central System and the Indiana & Ohio.