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Magnetic Rail Group acquires One Rail Australia’s East Coast Rail business
BigLaw firm Johnson Winter & Slattery has advised Magnetic Rail Group (MRG) on the acquisition of One Rail Australia’s East Coast Rail (ECR) business from Aurizon.
Jerome Doraisamy
Firm: JWS (Magnetic Rail Group)
Aurizon reported, JWS said, that after expected completion adjustments, it will receive cash proceeds of approximately $425 million.
Area: Merger and acquisition
Value: Approximately $425 million (according to Aurizon)
Key players: The JWS team was led by partners Bruce Adkins, Stuart Clague, and Simon Haddy, who were assisted by special counsel Jarrod Wilksch and Tom Barrett and associate Haerim Nam.
Deal significance: Speaking about the acquisition, Mr Adkins said: “We were delighted to assist M Infrastructure and ABL with this high-profile and high-value acquisition. We look forward to working with the buyers as they grow the ECR business.”
Completion of the sale of the ECR business is subject to approval by the Australian Competition and Consumer Commission (ACCC), the firm noted.
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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