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Canadian Pacific closed its acquisition of the Central Maine & Quebec Railway, the Alberta-based rail company said in a Dec. 30 news release.
The acquisition of CMQ in the United States remains subject to U.S. Surface Transportation Board approval, Canadian Pacific officials said.
Terms were not disclosed.
The acquisition, announced Nov. 20, will provide Canadian Pacific customers with access to ports at Searsport, Maine, and to St. John, New Brunswick, via Eastern Maine Railway Co. and New Brunswick Southern Railway, according to Canadian Pacific.
The railroad acquired Central Maine & Quebec Railway from Fortress Transportation and Infrastructure Investors. Central Maine & Quebec Railway owns 481 miles of rail lines primarily in Quebec and Maine.
The acquisition gives Canadian Pacific a larger coast-to-coast network across Canada and an increased presence in the eastern U.S., according to CP President Keith Creel.
Canadian Pacific is a transcontinental railway based Calgary, Alberta, doing business throughout Canada and the United States, with links to major ports on both coasts. The railroad’s services include freight transportation, logistics and supply chain offerings. — Transport Topics
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