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Article: CN acquires three rail subsidiaries and ferry operation of Quebec Railway Corp. (QRC) for C$49.8 million.
- Article from:
- PR Newswire
- Article date:
- November 3, 2008
CopyrightCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Purchase adds QRC's core Ontario, Quebec and New Brunswick rail properties to CN's network
MONTREAL, Nov. 3 /PRNewswire-FirstCall/ -- CN announced today the acquisition of the three principal railway subsidiaries of the Quebec Railway Corp. (QRC) and a QRC rail-freight ferry operation for $C49.8 million. Under the transaction, CN is purchasing 540 track miles of rail line it formerly owned in eastern Ontario, eastern Quebec and northern New Brunswick, as well as a ferry service on the St. Lawrence River in eastern Quebec. CN sold the rail lines to QRC in the late 1990s and has held a minority equity interest in the ferry operation since its start-up in 1975.
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