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Rail News: Rail Industry Trends

RailAmerica eyes ParkSierra merger


RailAmerica Inc. Sept. 18 filed a motion with Surface Transportation Board seeking a protective order for its recent merger agreement with ParkSierra Rail Group, under which RailAmerica would acquire all ParkSierra stock and merge the company's three short lines into RailAmerica's operations.
STB Oct. 1 granted the motion, and will keep the agreement and plan of merger under seal, away from the public docket or other public disclosure.
RailAmerica and ParkSierra officials couldn't be reached for comment on the merger agreement. No timetable for the transaction has been announced.
ParkSierra owns and operates 297-mile Arizona & California Railroad Co., 255-mile California Northern Railroad Co. and 150-mile Puget Sound & Pacific Railroad Co.
RailAmerica owns and operates 39 regionals and short lines in the United States, Canada, Australia and Chile.

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More News from 10/9/2001