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Rail News: M&A
Riverport Railroad L.L.C. recently filed an exemption notice with the Surface Transportation Board to acquire a 50-mile line from the Jo-Davies/Carroll County Local Redevelopment Authority.
Since beginning operations in 1999, Riverport has been leasing and operating the line — located at the former U.S. Army ammunition depot near Savanna, Ill., and adjacent to a Burlington Northern Santa Fe mainline — per an agreement with the authority. The transaction will enable the 68-mile short line to obtain ownership of the line.
Riverport and authority officials expect to close the deal by month's end.
4/27/2004
Rail News: M&A
Riverport Railroad to obtain line from Illinois redevelopment agency
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Riverport Railroad L.L.C. recently filed an exemption notice with the Surface Transportation Board to acquire a 50-mile line from the Jo-Davies/Carroll County Local Redevelopment Authority.
Since beginning operations in 1999, Riverport has been leasing and operating the line — located at the former U.S. Army ammunition depot near Savanna, Ill., and adjacent to a Burlington Northern Santa Fe mainline — per an agreement with the authority. The transaction will enable the 68-mile short line to obtain ownership of the line.
Riverport and authority officials expect to close the deal by month's end.
