STB approves Genesee & Wyoming purchase of Providence & Worcester

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Providence & Worcester observation car New Englander is part of the railroad's passenger train, seen at Worcester Union Station on Oct. 26. The railroad's shareholders voted overwhelmingly to merge the company into the Genesee & Wyoming family.
Scott A. Hartley
WASHINGTON — Exactly four months after Genesee & Wyoming's announcement that it had reached an agreement to purchase the 516-mile Providence & Worcester Railroad, the Surface Transportation Board granted authority for G&W to acquire control of the Class III railroad. The decision came through on Dec. 15. P&W shareholders voted overwhelmingly to approve the sale on Oct. 26, and since that time G&W has purchased most shares. Providence & Worcester has been held in trust as G&W awaited the STB's decision.

The STB ruling subjects G&W to certain protections for P&W employees. G&W also assures the board that it will not change its operations in a way that negatively affects Springfield Terminal Railway and its interchange with CSX Transportation in Worcester, Mass., where the two railroads use approximately three miles of P&W trackage.

Although the STB ruling comments on Providence & Worcester's passenger excursion operations, it does not impose any conditions. The decision discusses G&W's willingness to negotiate in the future with a local tourism commission that has been a long-time sponsor of train excursions as well as the Boston Surface Railroad Co., which proposes to operate commuter trains in the Worcester, Mass. to Providence, R.I. corridor.

NEWSWIRETrains News Wire

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