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Rail News: M&A
Patriot Rail L.L.C. is seeking a Surface Transportation Board (STB) exemption to acquire control of Rarus Railway Co. The parties reached an agreement under which a wholly owned Patriot Rail subsidiary would purchase all of Rarus Railway’s outstanding stock.
The 25-mile Rarus Railway operates a line between Butte and Anaconda, Mont. A holding company formed last year by RailAmerica Inc. co-founder and former top executive Gary Marino, Patriot Rail currently owns the 118-mile Tennessee Southern Railroad Co.
The parties plan to complete the transaction on or about April 25, according to a STB filing.
4/13/2007
Rail News: M&A
Patriot Rail to acquire control of Rarus Railway
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Patriot Rail L.L.C. is seeking a Surface Transportation Board (STB) exemption to acquire control of Rarus Railway Co. The parties reached an agreement under which a wholly owned Patriot Rail subsidiary would purchase all of Rarus Railway’s outstanding stock.
The 25-mile Rarus Railway operates a line between Butte and Anaconda, Mont. A holding company formed last year by RailAmerica Inc. co-founder and former top executive Gary Marino, Patriot Rail currently owns the 118-mile Tennessee Southern Railroad Co.
The parties plan to complete the transaction on or about April 25, according to a STB filing.
