[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
