[Federal Register Volume 66, Number 245 (Thursday, December 20, 2001)]
[Notices]
[Pages 65776-65777]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-31366]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34100]


RailAmerica, Inc.--Control Exemption--ParkSierra Acquisition 
Corp. and ParkSierra Corp.

    RailAmerica, Inc. (RailAmerica), a noncarrier holding company, has 
filed a verified notice of exemption to acquire control of ParkSierra 
Corp. (ParkSierra), a Class II railroad, and to continue in control of 
ParkSierra Acquisition Corp. (Acquisition), a noncarrier, upon 
Acquisition's purchase of ParkSierra's stock. Acquisition, a wholly 
owned subsidiary of RailAmerica, will acquire 100% of the outstanding 
stock of ParkSierra.
    The transaction is scheduled to be consummated on or after January 
2, 2002.
    On September 18, 2001, as amended on October 3, 2001, RailAmerica 
also filed a motion for protective order under CFR 1104.14, and a 
protective order was granted.\1\
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    \1\ See  RailAmerica, Inc.--Control Exemption--ParkSierra 
Acquisition Corp. and ParkSierra Corp., STB Finance Docket No. 34100 
(STB served Oct. 1, 2001, and Oct. 15, 2001).
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    RailAmerica states that, as of its filing of the notice of 
exemption, it controls one Class II and 23 Class III rail common 
carriers operating in 23 states.
    RailAmerica also states that: (i) These railroads do not connect 
with each other; (ii) the acquisition of control is not part of a 
series of anticipated transactions that would connect the railroads 
with each other or any railroad in their corporate family; and (iii) 
the transaction does not involve a Class I carrier. Therefore, the 
transaction is exempt from the prior approval requirements of 49 U.S.C. 
11323. See 49 CFR 1180.2(d)(2).
    Under 49 U.S.C. 10502(g), the Board may not use its exemption 
authority to relieve a rail carrier of its statutory obligation to 
protect the interests of its employees. Because the transaction 
involves two Class II rail carriers, the transaction will be made 
subject to the labor protection conditions described in New York Dock 
Ry.--Control--Brooklyn Eastern Dist., 360 I.C.C. 60 (1979).
    If the verified notice contains false or misleading information, 
the exemption is void ab initio. Petitions to revoke the exemption 
under 49 U.S.C. 10502(d) may be filed at any time. The filing of a 
petition to revoke will not automatically stay the transaction.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 34100, must be filed with the Surface Transportation 
Board, Office of the Secretary, Case Control Unit, 1925 K Street, NW, 
Washington, DC 20423-0001. In addition, one copy of each pleading must 
be served on (1) Gary A. Laakso, Esq., 5300 Broken Sound Blvd. NW, 
Second Floor, Boca Raton, FL 33487, and (2) Louis E. Gitomer, Esq., 
Ball Janik LLP, 1455 F Street, N.W., Suite 225, Washington, DC 20005.
    Board decisions and notices are available on our Web site at 
www.stb.dot.gov.


[[Page 65777]]


    Decided: December 13, 2001.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 01-31366 Filed 12-19-01; 8:45 am]
BILLING CODE 4915-00-P