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(Reuters) - Aurizon Holdings, Australia's largest rail freight operator, said on Friday it will sell its East Coast Rail (ECR) business to Magnetic Rail Group for A$425 million ($284.71 million) in cash.
Aurizon said in a statement the sale was in accordance with its agreement with the country's competition regulator, following its $1.75 billion acquisition deal for One Rail Australia (ORA) that was finalised in July 2022.
The ORA deal is expected to help Aurizon diversify from coal and add bu...
>>> Read more: Aurizon to sell ECR unit for $285 million to ease competition concerns
Aurizon said in a statement the sale was in accordance with its agreement with the country's competition regulator, following its $1.75 billion acquisition deal for One Rail Australia (ORA) that was finalised in July 2022.
The ORA deal is expected to help Aurizon diversify from coal and add bu...
>>> Read more: Aurizon to sell ECR unit for $285 million to ease competition concerns
