CN sells Oakville-Burlington, Ont., line segment to Metrolinx for GO Transit commuter rail service
TORONTO, March 22, 2013 /PRNewswire/ – CN (TSX: CNR) (NYSE: CNI) today
closed the sale of a segment of rail line principally used by GO
Transit commuter trains in the Oakville-Burlington, Ont., area west of
Toronto to Metrolinx for C$52.5 million.
Metrolinx is the Province of Ontario’s regional transportation agency
for the Greater Toronto and Hamilton Area (GTHA). GO Transit, a
division of Metrolinx, is Ontario’s inter-regional public transit
system linking Toronto with the surrounding regions of the GTHA.
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 main line 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
CN – Canadian National Railway Company and its operating railway
subsidiaries – spans Canada and mid-America, from the Atlantic and
Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver,
Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala.,
and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit,
Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul,
Memphis, and Jackson, Miss., with connections to all points in North
America. For more information on CN, visit the company’s website at www.cn.ca.