The Huron Central Railway has new bosses at the top of the pyramid. The sale of short line railroader Genesee & Wyoming to Brookfield Infrastructure and GIC of Singapore has closed.
G & W’s Canadian subsidiary, Genesee & Wyoming Canada of Montreal, operates the Huron Central between Sault Ste. Marie and Sudbury, and the Ottawa Valley Railway, which runs between Sudbury, North Bay and Temiscaming, Que.
The US$8.4-billion transaction – first announced last July – had been on hold pending a review by the U.S. Surface Transportation Board.
Regulatory approval was finally granted this past fall.
The completion of the sale could have some bearing to as whether Genesee & Wyoming Canada continues to operate the Huron Central.
One shipper told Northern Ontario Business that Genesee & Wyoming’s drop-dead date is early March.
The provincial government has been mum on a commitment to Genesee & Wyoming.
How is it that Genesee Wyoming sold a railroad that wasn’t even “self sustaining” for
US$8.4-billion? All these years they were threatening the government to shut down and pull out if they didn’t get tens of millions for maintenance. They sure walked away with a smirk on this deal. Time for the Canadian government to smarten up and grow a pair when it comes to these shakedowns from foreign entities whining for money that they don’t need. Quit squandering our tax dollars you morons!
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