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Old 08-04-2008, 02:56 PM   #17
captadam
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Join Date: Dec 2007
Posts: 56
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Aw, geez, even a simple discussion like this has to result in arguments and a ban.

Not that I care either way--I just came to this forum to see if there was any talk about the G&W's buyout of OHCR--a move rumored last week (alstom was exactly right) and confirmed through many media reports today.

http://forums.railpictures.net/newre...uote=1&p=68393

GREENWICH, Conn. -

Genesee & Wyoming Inc., a short-line and regional freight railroad operator, said Monday it will acquire nine short-line railroads for $219 million in cash.

As part of Genesse's purchase of the railroads, known as the Ohio Central Railroad System, Genesee will pay $25 million once certain conditions are satisfied.

The final purchase price will be adjusted for working capital at the time of closing, Genesee said.

The purchase is subject to customary closing conditions and must receive approval from the state of Ohio for the transfer of an operating agreement for one of the railroads.

The acquisition is expected to close in the fourth quarter.

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I'd say it's too early to assume much of anything ... but everything I've read seems to indicate that the Ohio Central will continue to operate as its own business unit. And that would make sense, since it's a short-line railroad that needs to be close to its local customers.

Last edited by captadam; 08-04-2008 at 03:00 PM.
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