Canadian Pacific Kansas City (CP) said CPKC and the Lanco Group/Mi-Jack have sold the Panama Canal Railway Company to APM Terminals, a global terminal operator and an independent division of A.P. Moller – Maersk. PCRC provides ocean-to-ocean freight and passenger services along the Panama Canal and has been a 50/50 joint venture between CPKC subsidiary Kansas City Southern and Lanco Group/Mi-Jack since its formation in 1998. In 2024, the PCRC generated revenue of $77M and EBITDA of $36M.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CP:
- Canadian Pacific Kansas City price target lowered to $87 from $91 at Barclays
- Canadian Pacific Kansas City price target lowered to C$122 at RBC Capital
- Will Railroad Stocks Go Off the Rails as Auto Tariffs Hit?
- Canadian Pacific price target lowered to $88 from $90 at Susquehanna
- North American rail traffic up 4.2% for the week ending March 22