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Article: CN and RaiLink Reach Agreement on Sale of Northern Alberta Rail Network.
- Article from:
- Business Wire
- Article date:
- November 14, 1997
CopyrightCOPYRIGHT 1997 Business Wire. 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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EDMONTON, Alberta--(BUSINESS WIRE)--Nov. 14, 1997--(ME:CNR.) (TSE:CNR.) (NYSE:CNI) Canadian National announced today it has reached an agreement in principle to sell its rail network in northern Alberta and the Northwest Territories to RaiLink, Ltd., of Edmonton, Alta.
The network consists of 1,025 kilometres (640 miles) of track running north from Smith, Alta., located 210 kilometres north of Edmonton, to Hay River, N.W.T. A branch line running west of Peace River, Alta., to Hines Creek, Alta., is included in this network. This transaction is expected to close by year-end.
"We are very pleased that this transaction will preserve and improve rail ...