Aurizon to Buy One Rail Australia for $1.76 Billion

By Rhiannon Hoyle

Aurizon Holdings Ltd. said it will buy One Rail Australia from Macquarie Group Ltd.'s asset management arm for 2.35 billion Australian dollars (US$1.76 billion).

The rail operator said it will commit to an enforceable undertaking with the Australian Competition and Consumer Commission to divest One Rail's East Coast Rail business following the completion of the deal, and that it will seek to do so via a demerger or trade sale. Until then, the East Coast Rail business will be operated independently of Aurizon with a separate chief executive and management team, the company said.

Write to Rhiannon Hoyle at [e-mail]

(END) Dow Jones Newswires

10-21-21 1809ET