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Pacific National waits in Victoria’s wings

<p>Pacific National is poised to become Victoria’s dominant freight hauler when it when takes control of former rival Freight Australia tomorrow (September 1).</p> <p>The protracted sale followed a drawn out approval process with the Victorian Government as well as the required approval from the Australian Competition and Consumer Commission (ACCC).</p> <p>Freight Australia’s present management is due to wind up its involvement later today in readiness for the Toll-Patrick-owned Pacific National to take over tomorrow.</p> <p>The operator, plus a 45-year track lease on Victoria’s regional track network, went for $285m.</p> <p>Freight Australia’s former owner, RailAmerica, will use the money to reduce debt. </p> <br />