RailAmerica to terminate of OVR lease with CP
RailAmerica, Inc. says its
subsidiary RaiLink Canada Ltd. has closed on a transaction with the Canadian
Pacific Railway to terminate its lease of the Ottawa Valley Railway line. Under
the terms of the agreement, RailAmerica, Inc. received C$73 million in gross
proceeds. The company estimates net cash proceeds after taxes and transaction
related expenses of C$69 to C$70 million.
