RailAmerica completes 3 property sales in Alberta
RailAmerica said Thursday it has completed the sale of its three railroad properties in Alberta, Canada, to Canadian National Railway Co.
The Central Western Railway, the Lakeland & Waterways Railway and the Mackenzie Northern Railway, were sold for $22.2 million, with an additional $3.4 million in potential future payments.
In 2005, the Alberta properties moved approximately 50,000 carloads, generated revenue of $26 million and earnings per share of $0.04.