The Australian government has named Macquarie Bank business adviser for the sale of state-owned National Rail Corp. The company, which is expected to fetch in the region of A$500 million ($301 million), is one of two rail freight carriers up for sale by the Australian government. The other is the freight division of the West Australian government's Westrail business. Press reports suggest the business will fetch around A$1 billion.
A third rail freight carrier could also be put on the market; unconfirmed reports suggest the New South Wales state government, which owns 18.6% of National Rail, is considering selling its FreightCorp rail freight carrier. Press reports suggest FreightCorp, like Westrail's freight arm, is worth about A$1 billion.
The Australian government is selling off its rail assets in an effort to improve efficiency.
