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-   -   Sale of the MMA coming soon (http://www.railpictures.net/forums/showthread.php?t=16795)

ShortlinesUSA 12-05-2013 02:11 PM

Sale of the MMA coming soon
 
As Paul Harvey would say, "Stand by for news!"

http://bangordailynews.com/2013/12/0...old-this-week/

I have heard a number of theories discussing this with industry sources. The overwhelming majority believe the MMA will not be sold as a complete system to a single operator.

The oil traffic has shifted to CN and Pan Am routings, and is not expected to return. This makes the Moosehead Subdivision west of Brownsville Junction, ME virtually worthless, and it is not expected to survive. That would leave a separated system with two main traffic flows: from Montreal south into Vermont, and from Saint John south to Maine.

We'll see how these expectations pan out soon.

ShortlinesUSA 12-16-2013 02:10 PM

The news is out, and it's still "clear as mud."

http://bangordailynews.com/2013/12/1...antic-railway/

By that, I mean many people are saying this is no more than a catalyst bid to get things going, and Fortress doesn't really intend on operating the lines. However, Fortress is no stranger to railroads, having purchased RailAmerica and still being the parent company of the Florida East Coast Railway.

The speculation is on the separate north-south systems quickly being spun off to other operators, and the Moosehead being held by Fortress mainly for the real estate (as a potential pipeline ROW).

We'll see where it goes.

ShortlinesUSA 12-17-2013 08:20 PM

A bit more speculation on the line's future, but not much different than what has been said already:

http://www.pressherald.com/news/Fate...html?pagenum=1

ShortlinesUSA 01-22-2014 04:27 PM

And still appearing the line will go to Fortress Investments, through an affiliate. From today's Progressive Railroading:

"A Fortress Investment Group partner is expected to purchase the assets of the Montreal, Maine and Atlantic Railway (MM&A), according to a report issued yesterday by Canada's CBC News.

Florida Great Lakes Partners made a winning bid at an auction held yesterday in Portland, Maine. The amount of the bid has not yet been released. The sale still will need to be approved in a separate hearing, scheduled to be held tomorrow."

Full story is at http://www.progressiverailroading.co...-assets--39188


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