Short line operator seeks New Zealand presence
RailAmerica, which operates 49 short line and regional railroads in the United States, Canada, Australia and Chile, said its newly formed Rail New Zealand subsidiary intends to make a $90 million cash offer to buy all of the shares of Tranz Rail Holdings Ltd.
Tranz Rail is the sole freight rail provider in New Zealand and also offers passenger service. It also operates a freight and passenger ferry service that links the north and south islands of New Zealand.