DARIEN, Conn.--(BUSINESS WIRE)--Genesee & Wyoming Inc. (G&W) announced that, effective today, it has entered into a partnership with CN involving G&W’s Cape Breton & Central Nova Scotia Railway (CBNS). Under this partnership, CN will acquire a stake in CBNS and manage interline movements for customers, while a G&W subsidiary will continue to operate the CBNS line from Truro to Point Tupper, Nova Scotia.
“This partnership fully leverages the expertise of both a local, first- and last-mile railroad and a Class I railway that is part of the broader North American freight-rail network,” says Rick McLellan, president of G&W’s Canadian operations. “As G&W and CN work together to enhance service for rail-served industries in the Nova Scotia region, customers can continue to rely on the safe and efficient transportation service they have received for more than a decade.”
Terms of the transaction were not disclosed.
Northborne Partners served as financial advisor, while McInnes Cooper served as legal counsel to G&W.
About Genesee & Wyoming Inc.
G&W owns or leases 116 freight railroads with 7,300 employees serving 3,000 customers. The company’s North American operations include 111 short line and regional railroads that serve 43 U.S. states and five Canadian provinces over more than 13,000 track-miles. G&W subsidiaries and joint ventures also provide rail service at more than 30 major ports, rail-ferry service between the U.S. Southeast and Mexico, transload services, and industrial railcar switching and repair. G&W is owned by Brookfield Infrastructure Partners, L.P. and GIC.