TORONTO,
March 22, 2013 /PRNewswire/ - CN
(TSX: CNR) (NYSE: CNI) today closed the sale of a segment of rail
line principally used by GO Transit commuter trains in the
Oakville-Burlington, Ont., area west of Toronto to Metrolinx for C$52.5 million.
Metrolinx is the Province of Ontario's regional transportation agency for
the Greater Toronto and
Hamilton Area (GTHA). GO Transit,
a division of Metrolinx, is Ontario's inter-regional public transit system
linking Toronto with the
surrounding regions of the GTHA.
Metrolinx is acquiring the segment of CN's Oakville Subdivision
from a point near Fourth Line in Oakville west to a point just east of where
CN's freight main line joins the Oakville Subdivision at Brant
Street in Burlington. Metrolinx
already owns the Lakeshore line from Oakville to Toronto Union Station.
CN will retain freight operating rights over the line segment
sold to Metrolinx.
CN - Canadian National Railway Company and its operating railway
subsidiaries - spans Canada and
mid-America, from the Atlantic and Pacific oceans to the
Gulf of Mexico, serving the ports
of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New
Orleans, and Mobile, Ala.,
and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth,
Minn./Superior, Wis.,
Green Bay, Wis., Minneapolis/St. Paul, Memphis, and Jackson, Miss., with connections to all points
in North America. For more
information on CN, visit the company's website at www.cn.ca.
SOURCE CN