Monday, March 25, 2013

CN sells Ontario line to Metrolinx for commuter service

Canadian National closed the sale of a segment of rail line principally used by GO Transit commuter trains in the Oakville-Burlington, ON, Cananda-area west of Toronto to Metrolinx for CA$52.5 million (US$51.4 million).

Metrolinx is acquiring the segment of CN's Oakville Subdivision from a point near Fourth Line in Oakville west to a point just east of where CN's freight mainline joins the Oakville Subdivision at Brant Street in Burlington. Metrolinx already owns the Lakeshore Line from Oakville to Toronto Union Station.

CN will retain freight operating rights over the line segment sold to Metrolinx.

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