[Federal Register Volume 59, Number 239 (Wednesday, December 14, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-30718]


[[Page Unknown]]

[Federal Register: December 14, 1994]


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INTERSTATE COMMERCE COMMISSION
[Finance Docket No. 32612]
 

Southern Pacific Transportation Company--Control--The Denver and 
Rio Grande Western Railroad Company
    Southern Pacific Transportation Company (SPTC) filed a notice of 
exemption to acquire control of The Denver and Rio Grande Western 
Railroad Company (DRGW). DRGW and SPTC, both common carriers, are 
subsidiaries of Southern Pacific Rail Corporation (SPRC), a non-carrier 
holding company. SPTC is directly owned by SPRC and DRGW is directly 
owned by Rio Grande Holding, Inc. (RGH), a non-carrier holding company, 
which, in turn, is directly owned by SPRC.
    After a dividend of the capital stock of DRGW by RGH to SPRC, RGH's 
parent corporation, SPRC proposes to transfer the capital stock of DRGW 
to its subsidiary, SPTC, the result of which will be to simplify 
corporate control by including DRGW as a subsidiary of SPTC. No change 
in the operations or the management personnel of any of the affiliated 
railroads will result from this change in control. After consummation, 
DRGW will be a directly-owned subsidiary of SPTC and be indirectly 
controlled by SPRC. The proposed transaction was to have been 
consummated on November 21, 1994.
    Because the parties are members of the same corporate family, and 
the control will not result in adverse changes in service levels, 
significant operational changes, or a change in the competitive balance 
with carriers outside the corporate family, the transaction qualifies 
for the class exemption at 49 CFR 1180.2(d)(3). The purpose to be 
accomplished by this transaction is the simplification of 
intercorporate control among railroad companies in the SPRC corporate 
family.
    As a condition to the use of this exemption, any employees 
adversely affected by the transaction will be protected by the 
conditions set forth in New York Dock Ry.--Control--Brooklyn Eastern 
Dist., 360 I.C.C. 60 (1979).
    Petitions to revoke the exemption under 49 U.S.C. 10505(d) may be 
filed at any time. The filing of a petition to revoke will not stay the 
transaction. Pleadings must be filed with the Commission and served on: 
Louis P. Warchot, Southern Pacific Bldg., Room 815, One Market Plaza, 
San Francisco, CA 94105.

    Decided: December 5, 1994.
    By the Commission, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 94-30718 Filed 12-13-94; 8:45 am]
BILLING CODE 7035-01-P