GWI completes acquisition of Arizona Eastern Railway

Friday, September 02, 2011

Genesee & Wyoming Inc. has completed its acquisition of the Arizona Eastern Railway (AZER) from Iowa Pacific Holdings, LLC, for $90.1 million in cash, subject to adjustment for final working capital. Headquartered near Miami, Ariz., AZER is composed of two rail lines operating more than 200 track miles in southeast Arizona and southwest New Mexico that are connected by 52 miles of trackage rights over Union Pacific.