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Rail News: Short Lines & Regionals
7/22/2011
Rail News: Short Lines & Regionals
OmniTRAX owner seeks to acquire Stockton Terminal & Eastern Railroad
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Patrick Broe and ST&E Holdings Inc. recently filed an exemption notice with the Surface Transportation Board to acquire control of the Stockton Terminal & Eastern Railroad Co. The companies expect to consummate the transaction on or after July 30 pending the exemption.
Broe directly controls ST&E Holdings, OmniTRAX Inc. and BNS Holding Inc. OmniTRAX currently controls 11 short lines and BNS indirectly controls the Nebraska, Kansas and Colorado Railway, Illinois Railway Inc. and Georgia & Florida Railway Inc.
Stockton Terminal Co. currently controls the Stockton Terminal & Eastern Railroad, a 25-mile short line that serves the greater Stockton, Calif., area and interchanges with BNSF Railway Co., Union Pacific Railroad and the Central California Traction Co. Through the proposed transaction, ST&E Holdings plans to acquire all of the terminal company’s stock; after the acquisition is consummated, the terminal company would be merged into ST&E Holdings.
Broe directly controls ST&E Holdings, OmniTRAX Inc. and BNS Holding Inc. OmniTRAX currently controls 11 short lines and BNS indirectly controls the Nebraska, Kansas and Colorado Railway, Illinois Railway Inc. and Georgia & Florida Railway Inc.
Stockton Terminal Co. currently controls the Stockton Terminal & Eastern Railroad, a 25-mile short line that serves the greater Stockton, Calif., area and interchanges with BNSF Railway Co., Union Pacific Railroad and the Central California Traction Co. Through the proposed transaction, ST&E Holdings plans to acquire all of the terminal company’s stock; after the acquisition is consummated, the terminal company would be merged into ST&E Holdings.
