Magnetic to buy Aurizon's East Coast Rail unit for $287m
Magnetic Rail Group has reached a sale agreement with Aurizon for the acquisition of the East Coast Rail (ECR) business
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Magnetic Rail Group has reached a sale agreement with Aurizon for the acquisition of the East Coast Rail (ECR) business
Mark Carter considers the future of freight operator Aurizon following its purchase of One Rail Australia earlier this year.
Australian freight rail transport firm Aurizon has concluded its A$2.35bn ($1.75bn) deal to purchase One Rail Australia (ORA).
Aurizon has signed an agreement with Macquarie Asset Management to acquire One Rail Australia for $2.35 billion.
Aurizon Holdings Ltd said on Friday it would buy One Rail Australia (ORA) for $1.75 billion as it looks to diversify from coal and add bulk capacity, though the outlay and worries about the impact on earnings sent shares 7% lower.