U.S. private equity firm Fortress Investment Group LLC has petitioned the U.S. Surface Transportation Board to gain control of the Montreal Maine and Atlantic Railway Inc‘s new entities after they become approved carriers, reports Progressive Railroading.
In January 2014, Fortress won the rights to nearly all of the assets of Montreal, Maine and Atlantic Railway (MMA) and its Canadian affiliate, Montreal Maine & Atlantic Canada Co, in a bankruptcy-related auction. MMA was the railway company involved in the train derailment disaster in Lac-Mégantic, Québec last year.
When the transaction is completed at month’s end, Fortress plans to rename the railroad companies Central Maine & Quebec Railway Inc and Central Maine & Quebec Railway Canada Inc, Progressive Railroading reported.
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