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Rail News: M&A
Buffalo & Pittsburgh Railroad Inc. (B&P) recently signed a 20-year agreement with Norfolk Southern Corp. under which the short line will lease a 36-mile branch line between Buffalo and Machias, N.Y.
Owned by Genesee & Wyoming Inc. (GWI), the 280-mile B&P currently uses the line to move overhead traffic per a trackage rights agreement with NS. Pending regulatory approval and customary closing conditions, the transaction is expected to close by September.
Along with the Rochester & Southern Railroad and South Buffalo Railway, B&P is part of GWI’s 770-mile regional rail system in western Pennsylvania and New York. GWI owns 48 regionals and short lines in the United States, Canada, Mexico, Australia and Bolivia.
7/3/2007
Rail News: M&A
Buffalo & Pittsburgh to lease New York branch line from NS
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Buffalo & Pittsburgh Railroad Inc. (B&P) recently signed a 20-year agreement with Norfolk Southern Corp. under which the short line will lease a 36-mile branch line between Buffalo and Machias, N.Y.
Owned by Genesee & Wyoming Inc. (GWI), the 280-mile B&P currently uses the line to move overhead traffic per a trackage rights agreement with NS. Pending regulatory approval and customary closing conditions, the transaction is expected to close by September.
Along with the Rochester & Southern Railroad and South Buffalo Railway, B&P is part of GWI’s 770-mile regional rail system in western Pennsylvania and New York. GWI owns 48 regionals and short lines in the United States, Canada, Mexico, Australia and Bolivia.
