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Rail News: M&A
10/16/2008
Rail News: M&A
Pennsylvania rail authority seeks STB approval to buy NS line
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The Pennsylvania Northeast Regional Railroad Authority (PNRRA) has filed a docket with the Surface Transportation Board seeking an exemption to purchase a 10.6-mile line from Norfolk Southern Railway.
The line, which is located in Monroe and Northampton counties, will continue to be operated by the Delaware-Lackawanna Railroad Co. Inc.
The line purchase is subject to NS retaining overhead trackage rights. PNRRA and the Class I expect to consummate the deal in three separate phases after Nov. 3.
Owned by Genesee Valley Transportation Co. Inc., the 87-mile Delaware-Lackawanna Railroad interchanges with NS in Portland, Pa., and with Canadian Pacific Railway in Scranton, Pa.
The line, which is located in Monroe and Northampton counties, will continue to be operated by the Delaware-Lackawanna Railroad Co. Inc.
The line purchase is subject to NS retaining overhead trackage rights. PNRRA and the Class I expect to consummate the deal in three separate phases after Nov. 3.
Owned by Genesee Valley Transportation Co. Inc., the 87-mile Delaware-Lackawanna Railroad interchanges with NS in Portland, Pa., and with Canadian Pacific Railway in Scranton, Pa.
