Iowa Traction Sale?

Trains Magazine General Discussion
1

I have heard rumors in the past month about Iowa Traction being sold, or up for sale again. This time the rumor mill is indicating that Progressive Rail may be interested in purchasing the small line in Iowa. What is the current situation?

Jim

2

It’s true. Progressive made the STB filings for the acquistion within the last few weeks so, presumably, it’s a done deal. It doesn’t require any affirmative STB regulatory approval - just the notice of exemption filings Progressive has already made. See attached.

http://www.stb.dot.gov/decisions/readingroom.nsf/fc695db5bc7ebe2c852572b80040c45f/3b0c706ecc704d7f85257a790045eac5?OpenDocument

http://www.stb.dot.gov/decisions/readingroom.nsf/fc695db5bc7ebe2c852572b80040c45f/3b0c706ecc704d7f85257a790045eac5?OpenDocument

http://www.stb.dot.gov/filings/all.nsf/d6ef3e0bc7fe3c6085256fe1004f61cb/0e697ea4e98a5b2885257a6b005d3a5f/$FILE/232898.PDF

http://www.stb.dot.gov/filings/all.nsf/d6ef3e0bc7fe3c6085256fe1004f61cb/ec73f75467f285f185257a6b005e4192/$FILE/232899.PDF

3

From the TRAINSNewswire of Sept.18,2012:

"Progressive Rail to acquire Io