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M&A
Rail News: M&A
Heart of Georgia Railroad Inc. (HOG) and Georgia Midland Railroad Inc. (GMR) recently filed exemption notices with the Surface Transportation Board to acquire five Georgia lines from Ogeechee Railway Co. (ORC).
HOG would obtain a 42.4-mile line between Midville and Vidalia; GMR would obtain a 14.9 mile line between Roberta and Fort Valley, 12.9 mile line between Fort Valley and Perry, 29.2-mile line between Dover and Metter, and 21.1-mile line between Ardmore and Sylvania.
ORC currently leases the lines from the Georgia Department of Transportation. The 97-mile short line reached agreements with Atlantic Western Transportation Inc. — which owns and operates the 177-mile HOG, and plans to establish and operate GMR — under which the two railroads will sublease and operate the lines. ORC and Atlantic Western expect to finalize the transactions later this month.
3/16/2004
Rail News: M&A
Two small Georgia roads to acquire Ogeechee Railway's lines
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Heart of Georgia Railroad Inc. (HOG) and Georgia Midland Railroad Inc. (GMR) recently filed exemption notices with the Surface Transportation Board to acquire five Georgia lines from Ogeechee Railway Co. (ORC).
HOG would obtain a 42.4-mile line between Midville and Vidalia; GMR would obtain a 14.9 mile line between Roberta and Fort Valley, 12.9 mile line between Fort Valley and Perry, 29.2-mile line between Dover and Metter, and 21.1-mile line between Ardmore and Sylvania.
ORC currently leases the lines from the Georgia Department of Transportation. The 97-mile short line reached agreements with Atlantic Western Transportation Inc. — which owns and operates the 177-mile HOG, and plans to establish and operate GMR — under which the two railroads will sublease and operate the lines. ORC and Atlantic Western expect to finalize the transactions later this month.