Soo line corporation entered into a definitive agreement to acquire railroad acquisition holdings llc from fortress transportation and infrastructure investors llc (nyse:ftai) for $130 million.

Soo line corporation entered into a definitive agreement to acquire railroad acquisition holdings llc from fortress transportation and infrastructure investors llc (nyse:ftai) for $130 million on november 19, 2019. the consideration is payable in cash upon closing, subject to adjustments. the end-to-end transaction will provide canadian pacific railway limited customers with seamless, safe and efficient access to ports at searsport, maine and to saint john, new brunswick, via eastern maine railway company (emry) and new brunswick southern railway (nbsr). as part of the transaction, fortress transportation and infrastructure investors will retain ownership of katahdin railcar services (krs). the transaction is subject to various conditions, including, among other things, regulatory approvals and other normal and customary conditions. the transaction is expected to close in late december 2019. terence hynes, benjamin rosemergy, scott j.f. goldstein and suresh advani of sidley austin llp acted as legal advisors to fortress.
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