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Rail News Home M&A

5/9/2005



Rail News: M&A

East Penn Railways to take control of three lines, be controlled by new holding company



East Penn Railways Inc. recently filed exemption notices with the Surface Transportation Board (STB) to acquire three track segments in three states totaling 55.3 track miles.

The short line plans to acquire a 10.8-mile line between the Pennsylvania/Delaware state border and Elsmere Junction, Del., from the Wilmington & Northern Railroad Co. The line currently is operated by ISG Railways Inc.

In addition, East Penn would acquire a 17-mile line between the Delaware/Pennsylvania state line and Modena, Pa., from ISG Railways, and a 27.5-mile line between Chadds Fort Junction, Pa., and Sylmar, Md., from the Southeastern Pennsylvania Transportation Authority.

East Penn owner John Nolan also filed an exemption notice with the STB to establish Penn Eastern Holdings Inc. (PEH) as the holding company for East Penn and Penn Eastern Rail Lines Inc. Nolan and Mark Rosner plan to control the short lines through PEH.


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