(Source: Genesee & Wyoming press release, September 1, 2011)
GREENWICH, Conn. — Genesee & Wyoming Inc. (GWI) announced that it 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, Arizona, AZER is composed of two rail lines operating over 200 track miles in southeast Arizona and southwest New Mexico that are connected by 52 miles of trackage rights over the Union Pacific Railroad.