RAILAMERICA SELLS OFF SHORT-LINE UNIT
RailAmerica Inc., the big operator of short-line and regional freight railroads, said it has entered into an agreement to sell its 44-mile Dakota Rail Railroad to Hennepin County Regional Rail Authority, for $7.6 million.
The sale is part of RailAmerica's plan to sell non-core, non-strategic assets and reduce debt.
Boca Raton, Fla.-based RailAmerica has suspended regular freight service on the rail line, which runs between Wayzata and Hutchinson, Minn., for more than a year, due to insufficient shipper demand.
The company owns 39 short-line and regional railroad, operating 11,000 route miles in 22 states and six Canadian provinces, as well as Australia and Chile.