Canadian Pacific could sell old D, M & E line by year's end

    SIOUX FALLS, S.D. (AP) - A Canadian Pacific Railway official says the company could sell the South Dakota portion of the Dakota, Minnesota & Eastern Railroad by the end of the year.
     Canadian Pacific chief financial officer Brian Grassby says the company is down to four or five interested parties for the western part of the DM&E railroad and is closing in on a deal.
     But unless a major railroad is the buyer, the South Dakota track could end up in the hands of a short-line railroad, which would have to make a deal for access to Canadian Pacific's network. That worries many South Dakota shippers because that could lead to higher shipping rates.
     Canadian Pacific is looking into selling 660 miles of track in South Dakota and three surrounding states.
 AP-WF-08-25-13 1626GMT

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Topics : Business_Finance
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Locations : MinnesotaSouth Dakota
People : Brian Grassby
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