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Maine railroad in deadly Lac-Megantic derailment has been sold

(Source: Associated Press, January 22, 2014)

PORTLAND, Maine -- Railroad Acquisitions LLC, a subsidiary of Fortress Investment Group, won the closed-door bidding for Montreal, Maine and Atlantic Railway, according to one of the losing bidders. The winning bid goes before a U.S. bankruptcy judge in Maine and a Superior Court judge in Quebec on Thursday. The Fortress subsidiary had submitted a bid of $14.25 million.

Full story: ABC News

Thursday, January 23, 2014

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