UK Firms Aboard $8.4B US Railway Deal
Two U.K. firms have picked up roles on the sale of American railway operator Genesee & Wyoming.
July 03, 2019 at 05:04 AM
2 minute read
Genesee & Wyoming.
Addleshaw Goddard and Macfarlanes have lined up alongside a plethora of U.S. heavyweights to advise on the sale of American railway operator Genesee & Wyoming (G&W) in a deal worth $8.4 billion.
G&W is being bought for $6.4 billion in cash by a consortium that includes Canadian private equity firm Brookfield Infrastructure of Toronto and Singaporean sovereign wealth fund GIC, with the transaction set to take G&W off the New York Stock Exchange.
The railway company has a portfolio of 120 short-line railroads based predominantly in North America, with operations in Europe and Australia too.
The U.K. firms are advising G&W on the deal, alongside U.S. firm Simpson Thacher & Bartlett, Asia-Pacific law firm Allens, and Canadian firm Stikeman Elliott.
Wachtell Lipton Rosen & Katz, which has a referral relationship with Macfarlanes, is acting as counsel to G&W's board of directors.
Macfarlanes is advising on EU and U.K. competition elements of this matter, with competition partner Christophe Humpe and senior solicitor Michael Reiss acting.
White & Case, meanwhile, is serving as lead legal adviser to the consortium of buyers, which also includes Brookfield Infrastructure's institutional partners.
Canadian law firm McCarthy Tétrault, Australian firm Gilbert + Tobin and U.S. outfit Steptoe & Johnson are also serving as legal advisers to the Consortium, while Canadian firm Torys is serving as legal adviser to Brookfield Infrastructure and Sidley Austin is advising GIC.
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