Re: NNG: SLRG sale bids now accepted: first bid is $7.5 million

Quote
R&R
> April 14th 2021 -- DENVER — Colorado’s San
> Luis & Rio Grande is up for sale. This week, the
> trustee for the bankrupt short line that was once
> part of the embattled Iowa Pacific Holdings
> empire, filed a motion in U.S. Bankruptcy Court
> stating that the railroad in southern Colorado is
> to be sold by June 1.
>
> Midwest & Bluegrass Rail, a short line operator
> with four different railroads of its own, has made
> a stalking horse bid of $7.5 million for the
> railroad, kicking off a six-week period where
> other bids will be accepted. If the trustee
> receives a bid of more than the stocking horse
> price, an auction will be held on May 26. The sale
> will be completed at a court hearing on June 1.
> The sale will include the nearly 150 miles of
> railroad and other equipment and structures
> belonging to the Alamosa, Colo.-based railroad.
>
>
> Full article link:
> [railfan.com]-
> sale-amid-iowa-pacific-bankruptcy/
>