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Rail News: Rail Industry Trends

RailAmerica closes StatesRail deal


RailAmerica Inc. Jan. 7 completed its $90 million StatesRail Inc. acquistion. The final purchase price consisted of $67 million in cash and $23 million in RailAmerica common stock.

The cash portion was completed using a portion of proceeds from RailAmerica’s recent common stock private placement, as well as financing provided by the holding company’s senior bank group.

Dallas-based StatesRail comprises eight railroads (seven freight railroads and a tourist railroad in Hawaii) that operate 1,647 track miles in 11 states. RailAmerica now owns 47 short-line and regional railroads that operate 12,500 route miles in the United States, Canada, Australia and Chile.

Contact Progressive Railroading editorial staff.

More News from 1/7/2002