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Government must stay out of Trans Rail deal

Government must stay out of Trans Rail deal

The National Party is urging the Government not to meddle in the proposed bid by Rail America to buy Trans Rail Holdings Ltd.

"The Government must stay well away from the process as the appropriate regulatory bodies consider troubled Trans Rail's fate, " says National Party Transport spokesman Roger Sowry.

"RailAmerica is clearly serious about the long term business of rail, with successful operations in the US, South America, Australia, and Canada.

"The New Zealand Government must resist the temptation to interfere in the process, like it did with the deal between Singapore Airlines and Air New Zealand," says Mr Sowry.

"The offer by RailAmerica, with a premium that's 44% higher than the listed share price, proves that the National Party was right to suggest that the Government should not bail out Trans Rail despite its financial difficulty.

"The proposal shows that there are other interested parties who have a proven track record in rail, who can do a much better job of running our trains than the Government could ever do.

"But the deal, which is now subject to tests by our overseas investment watch-dogs, must be allowed to proceed without any political interference," Mr Sowry says

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