Stinson Leonard Street Represents Canadian Pacific in Sale of West End Of DM&E Railroad
Stinson Leonard Street is representing Canadian Pacific (TSX:CP) (NYSE:CP) in connection with its sale of the west end of the Dakota, Minnesota & Eastern Railroad (DM&E) to Rapid City, Pierre & Eastern Railroad, Inc., a wholly owned subsidiary of Genesee & Wyoming Inc. (NYSE:GWR) for approximately $210 million.
The west end of the DM&E includes approximately 660 miles of rail operations between Tracy, Minn. and Rapid City, S.D.; north of Rapid City to Colony, Wyo.; south of Rapid City to Dakota Junction, Neb.; and connecting branch lines and trackage rights from Dakota Junction to Crawford, Neb.
The sale is expected to benefit Canadian Pacific in its ongoing transformation to make its network stronger for its entire customer base.
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe.
The Stinson Leonard Street team includes: Steve Quinlivan, Jim Bertrand and David Ezrilov (M&A); David Rifkind and Karl Hansen (Transportation); Rob Devolve (Environmental) and Eric Galatz (Real Estate).