[Federal Register Volume 68, Number 14 (Wednesday, January 22, 2003)]
[Notices]
[Page 3094]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-1335]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34296]


Wisconsin Central Transportation Corporation, Wisconsin Central 
Ltd., and Fox Valley & Western Ltd.''Intracorporate Family Transaction 
Exemption

    Wisconsin Central Transportation Corporation (WCTC),Wisconsin 
Central Ltd. (WCL), and Fox Valley & Western Ltd. (FVW)\1\ have jointly 
filed a verified notice of exemption under the Board's intracorporate 
family class exemption at 49 CFR 1180.2(d)(3) to merge FVW into WCL, 
with WCL as the surviving entity. With the consent of the Board of 
Directors of FVW, and pursuant to an exchange agreement between WCL and 
FVW, WCTC was to convey ownership of FVW to WCL, after which FVW would 
be dissolved into WCL pursuant to a liquidation agreement between WCL 
and FVW. All of FVW's assets, rights, obligations, and responsibilities 
will be in the name of WCL.
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    \1\ WCTC is a noncarrier holding company that owns, besides WCL 
and FVW, the Sault Ste. Marie Bridge Company (located in Michigan 
and Wisconsin) and Wisconsin Chicago Link Ltd. (located in 
Illinois). WCTC's stock is wholly owned by Grand Trunk Corporation, 
a subsidiary of Canadian National Railway Company (CNR). See 
Canadian National Railway Company, Grand Trunk Corporation, and WC 
Merger Sub, Inc.-Control-Wisconsin Central Transportation 
Corporation, Wisconsin Central Ltd., Fox Valley & Western Ltd., 
Sault Ste. Marie Bridge Company, and Wisconsin Chicago Link Ltd., 
STB Finance Docket No. 34000 (Decision No. 10) (STB served Sept. 7, 
2001).
    WCL and FVW are Class II rail carriers. WCL operates 
approximately 1,800 route miles in Wisconsin, Michigan, Illinois, 
and Minnesota. FVW operates approximately 350 route miles entirely 
in Wisconsin primarily in the Fox River Valley, with one line 
extending from eastern Wisconsin to the Mississippi River at East 
Winona.
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    The transaction was scheduled to be consummated on December 31, 
2002.
    The purpose of the transaction is to simplify the corporate 
structure of WCTC and streamline accounting, finance and management 
functions. The proposed transaction will also simplify the integration 
of CNR's information technology systems into Wisconsin Central's 
system.
    This is a transaction within a corporate family of the type 
specifically exempted from prior review and approval under 49 CFR 
1180.2(d)(3). The parties state that the transaction will not result in 
adverse changes in service levels, significant operational changes, or 
any change in the competitive balance with carriers outside the 
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).
    If the 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. 34296, must be filed with the Surface Transportation 
Board, 1925 K Street, NW., Washington, DC 20423-0001. In addition, a 
copy of each pleading must be served on Michael J. Barron, Jr., 
Canadian National/Illinois Central, 455 North Cityfront Plaza Drive, 
Chicago, IL 60611-5317.
    Board decisions and notices are available on our Web site at 
``http://www.stb.dot.gov.''

    Decided: January 14, 2003.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 03-1335 Filed 1-21-03; 8:45 am]
BILLING CODE 4915-00-P