(Sioux Falls, S.D.)– A change in ownership is in the works for a rail line that has tracks in northwest Iowa and southwest Minnesota.
The Dakota, Minnesota and Eastern Railroad has an agreement to acquire I-and-M Rail Link…which operates lines locally between Sheldon and Mason City and Jackson and Austin, Minnesota.
The President of the Brookings, South Dakota based D-M-and-E, Kevin Schieffer, says the deal was a chash transaction…but wouldn’t say how much. Schieffer says he expects no trouble in getting approval for the buyout.
Under the deal, the D-M-and-E will keep its name, but its parent company would change to Cedar American Rail Holdings. What’s currently the I-and-M Rail Link will become the Iowa, Chicago and Eastern…a sister company.
