Canadian Pacific to Buy Central Maine & Quebec Railway From FTAI

Date : 11/21/2019 @ 1:12AM
Source : Dow Jones News
Stock : Fortress Transportation and Infrastructure Investments LLC (FTAI)
Quote : 18.9  0.13 (0.69%) @ 1:00AM

Canadian Pacific to Buy Central Maine & Quebec Railway From FTAI

Fortress Transportation ... (NYSE:FTAI)
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By Josh Beckerman

 

Canadian Pacific Railway Ltd. (CP.T, CP) has agreed to buy the Central Maine & Quebec Railway from Fortress Transportation & Infrastructure Investors LLC (FTAI), which "gives CP a true coast-to-coast network across Canada."

Central Maine & Quebec owns 481 miles of rail lines. A press release from the companies didn't state the deal price.

Fortress Transportation will retain ownership of Katahdin Railcar Services and the contract to operate at a 12-mile branch line in Ohio.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

November 20, 2019 19:57 ET (00:57 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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