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12/21/2021
The Surface Transportation Board (STB) yesterday approved the sale of 652 miles of rail lines in Wisconsin and Michigan from CN-controlled Wisconsin Central Ltd. to Watco Holdings Inc. and two of its subsidiaries.
In April, Watco applied to the STB for a series of exemptions to acquire the rail lines. After considering comments received in favor and opposed to the proposed acquisition, the STB determined that “the issues raised do not demonstrate regulation is necessary to carry out the rail transportation policy” and that it’s appropriate for Watco to acquire the lines, board officials said in a press release.
The sale also includes CN’s Soo subdivision, which entails about 250 miles of track that runs from Sault Ste. Marie to Oba, Ontario.
"CN and Watco will work together in the coming weeks to implement a seamless transition for customers on the lines," CN and Watco officials said a joint press release.
After the transaction closes, the rail lines will remain connected to CN's network.
Meanwhile, the STB also announced yesterday that board member Ann Begeman's last day with the agency was Dec. 17, following the appointment and U.S. Senate confirmation of new board member Karen Hedlund.
Begeman joined the STB in 2011. She served as its acting chairman and chairman from January 2017 to Jan. 21, 2021, when President Joe Biden designated Martin Oberman as chairman. Begeman’s second five-year term on the board expired Dec. 31, 2020, and by law, she remained on the board to serve her holdover year.
"I want to express my deep appreciation to Ann for her leadership and dedication to the board, both as chairman and as a member," Oberman said in a press release. "Ann has shown dedication, leadership and innovation, and the beneficiary of all her persistent advocacy has always been the public."