Swiss rail freight company the Hupac Group has announced it has agreed to acquire ERS Railways from Genesee & Wyoming.
Should the deal receive regulatory approval, and subject to closing conditions, the deal is expected to be wrapped up in the second quarter of 2018.
Synergies will be made but ERS is expected to remain a fully independent company, said a spokesperson for Hupac in a statement.
ERS’s 47 per cent stake in freight firm boxXpress is also included in the deal.
A spokesperson added: “Thanks to this acquisition the Hupac Group will further strengthen its position within the European maritime hinterland logistics, a segment with substantial growth over these last few years and secured future growth potential, as globalisation will further require strong networks from the ports to the hinterland and from the hinterland to the ports.”
They added that the existing joint venture with Freightliner for continental train services will be strengthened.
ERS business development manager Bernd Decker and Hupac director Renzo Capanni will lead the company as members of the management board.