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Freight Australia sale could raise $400m

<p>Freight Australia could be sold off for $400m, according to a report in the <em>Australian Financial Review</em> today (Monday, October 20).</p> <p>Several parties are said to have made approaches to Freight Australia’s parent group RailAmerica, the paper said. </p> <p>Pacific National, the Australian Railroad Group (ARG) and Queensland Rail are named as interested parties. </p> <p>Last Thursday (October 16), <em>Lloyd’s List DCN</em> reported that Freight Australia’s drought affected performance had hit RailAmerica September figures.</p> <p>The rumour of a possible Freight Australia sale has persisted for several months, since RailAmerica declared its intention to sell off US$100m worth of assets to reduce debt. </p> <br />