Oaktree-backed Watco to acquire North American rail assets of Dow for c. $310m.

Private equity firm Oaktree Capital Management-backed Watco, a transportation service company agreed to acquire the North American rail assets of Dow, a business conglomerate for c. $310m. "Watco is excited to serve Dow and honoured to acquire these incredible assets. We are grateful for the confidence Dow has shown in Watco by trusting us with this critical role. This represents a revolutionary approach to industrial in-plant rail operations and we're proud to help Dow create value for many years to come," Dan Smith, Watco CEO.