View all newsletters
Receive our newsletter - data, insights and analysis delivered to you

CSX concludes sale on initial phase of $525m rail deal with Virginia

Transportation company CSX has concluded the initial phase of a $525m rail deal with the Commonwealth of Virginia in the US.

Transportation company CSX has concluded the initial phase of a $525m rail deal with the Commonwealth of Virginia in the US.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

The acquisition is part of Virginia’s previously announced multibillion-dollar rail transportation initiative to improve passenger service and infrastructure in the state.

Last month, CSX has signed agreements with the Commonwealth of Virginia to sell certain interests in three CSX -owned line segments.

The company said that the first phase deal is for the conveyance of a permanent land easement to separate passenger and freight rail operations in the Washington, DC to Petersburg, Virginia corridor.

CSX president and CEO James Foote said: “This transaction highlights our ability to find creative ways to generate meaningful value from our assets while enhancing the safety and efficiency of passenger and freight rail service in a vital transportation corridor.

CSX looks forward to our continued partnership with the Commonwealth, which will benefit commuters, as well as our valued freight customers in the future.”

The remaining phases of the transaction are expected to be concluded over the next two years.

These line segments run from Petersburg, Virginia, to Ridgeway, North Carolina, and from Doswell to Clifton Forge.

In November 2020, CSX signed a definitive agreement to acquire New England’s Pan Am Railways, a US-based regional railroad system.

Pan Am owns and operates a nearly 1,200-mile railway network in the New England region, as well as has a partial interest in the more than 600-mile Pan Am Southern system.

The transaction will expand CSX ’s reach in Connecticut, New York and Massachusetts while adding Vermont, New Hampshire and Maine to its existing 23-state network.

Related Companies

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The railway industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Railway Technology