Stinson Leonard Street Represents Canadian Pacific in the Sale of the Southern Portion of Its Delaware & Hudson Line
Stinson Leonard Street LLP represented Canadian Pacific Railway Limited (TSX:CP) (NYSE:CP) on its sale of more than 280 miles of track from Schenectady, N.Y., to Sunbury, Pa., to Norfolk Southern Corp. (NS).
The US $214.5 million sale (subject to adjustments) of the Delaware & Hudson South (D&H South) was first announced November 14, 2014, and approved by the U.S. Surface Transportation Board on May 15, 2015. The transaction closed on September 18, 2015.
The D&H South sale includes all branch lines and industrial spurs that connect to the Sunbury-Schenectady main line, plus some equipment, vehicles and parts.
The Stinson Leonard Street team included Steve Quinlivan, Jim Bertrand and David Ezrilov (M&A); David Rifkind and Karl Hansen (transportation); Rob Devolve and Kate Kosiek (environmental) and Eric Galatz (real estate).