Macquarie to advise on National Rail sale in Australia

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.