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Monday, March 25, 2013
CN completes sale of rail line segment to Metrolinx
CN closed the sale of a rail line segment in the Oakville-Burlington, Ontario, area to Metrolinx for $52.5 million (in Canadian dollars), the Class I reported last week.
The line is used primarily by GO Transit commuter trains. Metrolinx, the Ontario province's regional transportation agency, acquired the segment of CN's Oakville Subdivision from a point near Fourth Line in Oakville west to a point just east of where CN's mainline joins the Oakville Subdivision at Brant Street in Burlington, CN officials said in a prepared statement.
Metrolinx already owns the Lakeshore line from Oakville to Toronto Union Station.
CN will retain freight operating rights over the sold segment.
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