A CP train exits the Detroit River Tunnel - Date? Photographer? *1.
CP Completes Acquisition of Detroit River Rail Tunnel
22 December 2020
Calgary Alberta - Canadian Pacific (CP) announced today it has completed its previously announced agreement to purchase an 83.5 percent
stake in the Detroit River Rail Tunnel from certain affiliates of OMERS, the defined benefit pension plan for municipal employees in the province of
Ontario.
CP previously owned a 16.5 percent stake of the tunnel in partnership with OMERS.
The purchase price for the transaction is approximately US$312 million, subject to customary closing adjustments.
Author unknown.
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