A company that owns railways in South Dakota wants to sell more than 600 miles of the line by the middle of this year. Canadian Pacific plans to sell the west end of its Dakota, Minnesota and Eastern rail line. Two companies have struck an agreement on the transaction, but that doesn’t mean the sale is a sure-thing.
The 660 miles of railroad Canadian Pacific wants to sell run from Tracy, Minnesota into far western South Dakota. It also includes track in Nebraska and Wyoming.
Ed Greenberg with Canadian Pacific says the buyer is a well-known short line operator.
"The asset sale was to Genesee & Wyoming. Our railroad is pleased we found a partner in Genesee & Wyoming, which will maintain rail operation in this line and continue the standard of customer service that was required as part of our process in reviewing this line," Greenberg says.
Greenberg says, despite the sale, Canadian Pacific still owns and operates other rail lines in the Midwest. Canadian Pacific purchased the former DM&E Railroad in 2008. The US Surface Transportation Board must approve the $210 million deal before the sale can close later this year.