MONTREAL, Feb. 28, 2014 /CNW Telbec/ - CN (TSX: CNR) (NYSE: CNI) today closed the sale of a rail line principally used by Agence métropolitaine de transports (AMT) commuter trains between Deux-Montagnes and Montreal's Central Station to AMT for C$97 million.
AMT, a government agency that reports to the Quebec Transport Minister, oversees public transport services in the Greater Montreal area.
AMT is acquiring CN's entire Deux-Montagnes Subdivision, which runs from St-Eustache to the entrance of Montreal's Central Station, including the Mount Royal tunnel, a rail corridor of 21 miles in total.
CN will retain freight operating rights over a portion of the line sold to AMT where freight customers are located.
CN is a true backbone of the economy, transporting approximately C$250 billion worth of goods annually for a wide range of business sectors, ranging from resource products to manufactured products to consumer goods, across a rail network spanning Canada and mid-America. CN - Canadian National Railway Company, along with its operating railway subsidiaries -- serves the cities and ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth, Minn./Superior, Wis., 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.
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