RailAmerica closes StatesRail deal (1/7/2002)
1/7/2025Today, RailAmerica Inc. completed its $90 million StatesRail Inc. acquistion. The final purchase price consisted of $67 million in cash and $23 million in RailAmerica common stock.
The cash portion was completed using a portion of proceeds from RailAmerica’s recent common stock private placement, as well as financing provided by the holding company’s senior bank group.
Dallas-based StatesRail comprises eight railroads (seven freight railroads and a tourist railroad in Hawaii) that operate 1,647 track miles in 11 states. RailAmerica now owns 47 short-line and regional railroads that operate 12,500 route miles in the United States, Canada, Australia and Chile.
Source: Progressive Railroading Daily News