Patriot Rail and Ports, an operator of short lines in the United States, was acquired by First State Investments, an Australia-based firm that has invested in infrastructure in Australia, Europe, New Zealand and the United Kingdom, Railway Age reported Aug. 27.
Terms of the acquisition were not disclosed.
Patriot Rail and Ports operates a portfolio of 12 short-line freight railroads with more than 585 track miles across 14 states in the U.S. Patriot owns a number of properties represented by SMART Transportation Division.
Read the full article here.
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