Lowis & Gellen's client, Permian Basin Railways, Inc., signed an agreement to sell 100% of its stock in Arizona Eastern Railway Company to Genesee & Wyoming, Inc. for $90.1 million in cash, subject to adjustment for final working capital. The Lowis & Gellen team of Gerald Haberkorn, Robert Leavitt and Mehreen Sherwani handled all legal aspects of the transaction including structuring, drafting, and negotiating the purchase documentation. The acquisition is subject to customary closing conditions and is expected to be completed by the end of the third quarter of 2011.
For more information about Lowis & Gellen's mergers and acquisition practice, please contact: Gerald Haberkorn, (312) 456-2701
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