[Federal Register Volume 81, Number 244 (Tuesday, December 20, 2016)]
[Notices]
[Pages 92938-92939]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-30489]
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SURFACE TRANSPORTATION BOARD
[Docket No. MCF 21074]
Monarch Ventures Inc.--Acquisition of Control--Quick Coach Lines
Ltd. and Vancouver Tours and Transit Ltd. D/B/A Charter Bus Lines of
British Columbia
AGENCY: Surface Transportation Board.
ACTION: Notice Tentatively Approving and Authorizing Finance
Transaction.
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SUMMARY: On November 21, 2016, Monarch Ventures Inc. (Monarch), a
noncarrier, filed an application under 49 U.S.C. 14303 for Monarch to
acquire from Royal City Charter Coach Lines Ltd. (Royal), a noncarrier,
control of the assets and business operations of Quick Coach Lines Ltd.
(QCL) and Vancouver Tours and Transit Ltd. d/b/a Charter Bus Lines of
British Columbia (VTT). The Board is tentatively approving and
authorizing the transaction, and, if no opposing comments are timely
filed, this notice will be the final Board action. Persons wishing to
oppose the application must follow the rules at 49 CFR 1182.5 and
1182.8.
DATES: Comments must be filed by February 6, 2017. Monarch may file a
reply by February 20, 2017. If no opposing comments are filed by
February 6, 2017, this notice shall be effective February 7, 2017.
ADDRESSES: Send an original and 10 copies of any comments referring to
Docket No. MCF 21074 to: Surface Transportation Board, 395 E Street
SW., Washington, DC 20423-0001. In addition, send one copy of comments
to Monarch's representative: Stephen P. Flott, Flott & Co. PC, P.O. Box
17655, Arlington, VA 22216.
FOR FURTHER INFORMATION CONTACT: Amy Ziehm (202) 245-0391. Federal
Information Relay Service (FIRS) for the hearing impaired: 1-800-877-
8339.
SUPPLEMENTARY INFORMATION: Monarch, a noncarrier, owns and controls
100% of
[[Page 92939]]
Traxx Transportation Ltd. (Traxx), a passenger carrier operating in
Western Canada and the Western United States (MC-215048). Royal, a
noncarrier, owns and controls 100% of QCL, a passenger carrier
operating between various points in southern British Columbia, Seattle,
and SeaTac Airport (MC-205116). Royal also owns and controls 100% of
VTT, a passenger carrier operating in western Canada, as well as the
western United States (MC-108204).\1\
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\1\ Monarch states that VTT is a passenger carrier pursuant to
MC-212649. (See Appl. 3.) However, the record indicates that VTT
holds a federally issued operating authority under MC-108204. (See
Appl., Ex. B, VTT Company Snapshot & Ex. C, VTT Licensing &
Insurance.)
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Monarch states that, under the proposed transaction, QCL, VTT, and
Traxx would be owned by 1997553 Alberta Ltd. (Alberta Ltd.), a
noncarrier, of which Monarch would own 77.2% of the shares and Royal
would own 22.8%. Monarch states that Alberta Ltd. would acquire 100% of
the shares (including all of the assets, vehicles, and business
operations) of QCL, VTT, and Traxx. Upon completion of the transaction,
Monarch would (indirectly) control QCL and VTT and would continue to
(indirectly) control Traxx through its control of Alberta Ltd. Under
the transaction, Monarch states that the principals of Royal would be
the principal managers of QCL, VTT, and Traxx, with the goals of
increasing revenues through enhanced marketing, investment in new
products, and selected strategic acquisitions and increasing
profitability of all three carriers through operational improvements.
Under 49 U.S.C. 14303(b), the Board must approve and authorize a
transaction that it finds consistent with the public interest, taking
into consideration at least: (1) The effect of the proposed transaction
on the adequacy of transportation to the public; (2) the total fixed
charges that result; and (3) the interest of affected carrier
employees. Monarch has submitted the information required by 49 CFR
1182.2, including information to demonstrate that the proposed
transaction is consistent with the public interest under 49 U.S.C.
14303(b) and a statement that the aggregate gross operating revenues of
QCL and VTT exceeded $2 million for the preceding 12-month period. See
49 U.S.C. 14303(g).\2\
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\2\ Applicants with gross operating revenues exceeding $2
million are required to meet the requirements of 49 CFR
1182.2(a)(5).
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Monarch asserts that the transaction would have no adverse impact
on the adequacy of transportation services available to the public.
Monarch states that Royal's management team would continue to run the
operations of QCL and VTT and that Monarch intends to continue the
businesses of QCL, VTT, and Traxx essentially in the same manner in
which they are now being conducted. Monarch states that the proposed
transaction would have no effect on total fixed charges. Further,
Monarch states that no employees would be adversely affected by the
proposed transaction, as there would be no change in the day-to-day
operations of QCL and VTT.
On the basis of the application, the Board finds that the proposed
acquisition is consistent with the public interest and should be
tentatively approved and authorized. If any opposing comments are
timely filed, these findings will be deemed vacated, and, unless a
final decision can be made on the record as developed, a procedural
schedule will be adopted to reconsider the application. See 49 CFR
1182.6(c). If no opposing comments are filed by the expiration of the
comment period, this notice will take effect automatically and will be
the final Board action.
This action is categorically excluded from environmental review
under 49 CFR 1105.6(c).
Board decisions and notices are available on our Web site at
``WWW.STB.GOV.''
It is ordered:
1. The proposed transaction is approved and authorized, subject to
the filing of opposing comments.
2. If opposing comments are timely filed, the findings made in this
notice will be deemed as having been vacated.
3. This notice will be effective February 7, 2017, unless opposing
comments are filed by February 6, 2017.
4. A copy of this notice will be served on: (1) The U.S. Department
of Transportation, Federal Motor Carrier Safety Administration, 1200
New Jersey Avenue SE., Washington, DC 20590; (2) the U.S. Department of
Justice, Antitrust Division, 10th Street & Pennsylvania Avenue NW.,
Washington, DC 20530; and (3) the U.S. Department of Transportation,
Office of the General Counsel, 1200 New Jersey Avenue SE., Washington,
DC 20590.
Decided: December 13, 2016.
By the Board, Chairman Elliott, Vice Chairman Miller, and
Commissioner Begeman.
Kenyatta Clay,
Clearance Clerk.
[FR Doc. 2016-30489 Filed 12-19-16; 8:45 am]
BILLING CODE 4915-01-P