Notice2026-05933
Cando Holdings (U.S.) Inc. and Alberta Investment Management Corporation, et al.-Control Exemption-Savage Bingham & Garfield Railroad LLC and Savage Tooele Railroad LLC
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 27, 2026
Issuing agencies
Surface Transportation Board
Full Text
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<title>Federal Register, Volume 91 Issue 59 (Friday, March 27, 2026)</title>
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[Federal Register Volume 91, Number 59 (Friday, March 27, 2026)]
[Notices]
[Pages 14902-14903]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-05933]
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SURFACE TRANSPORTATION BOARD
[Docket No. FD 36914]
Cando Holdings (U.S.) Inc. and Alberta Investment Management
Corporation, et al.--Control Exemption--Savage Bingham & Garfield
Railroad LLC and Savage Tooele Railroad LLC
Cando Holdings (U.S.) Inc. (Cando) and Alberta Investment
Management
Corporation and various of its intermediate holding companies
(collectively, AIMCo),\1\ each noncarriers, filed a verified notice of
exemption under 49 CFR 1180.2(d)(2) to obtain control of Savage Bingham
& Garfield Railroad LLC (SBG) \2\ and Savage Tooele Railroad LLC
(STR),\3\ both Class III carriers, from their current owner Savage
Infrastructure LLC (Savage), a noncarrier.
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\1\ According to the verified notice, Cando is an indirect
subsidiary of Alberta Investment Management Corporation. There are a
total of 12 intermediate holding companies between Alberta
Investment Management Corporation and Cando: PIP7PX Holdings Ltd.;
AIMCo Global Infrastructure Partnership; PIP7 Rowboat Trust 2; PIP7
Rowboat Trust 1; PIP7 Rowboat Ltd.; Paddle LP; Cando Holdings Ltd.;
Cando Midco C Ltd.; Cando Midco B Ltd.; Cando Midco A Ltd.; Cando
Rail &Terminals Ltd. (Cando RTL); and Cando Rail & Terminals (U.S.)
ULC.
\2\ SBG operates approximately 21 miles of trackage in the
vicinity of Salt Lake City, Utah.
\3\ STR received authority to construct and operate an
approximately 11-mile rail line in Tooele County, Utah. See Savage
Tooele R.R.--Constr. & Operation Exemption--Line of R.R. in Tooele
Cnty., Utah, FD 36616 (STB served Apr. 1 2024).
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The verified notice states that, pursuant to an Equity and Asset
[[Page 14903]]
Purchase Agreement (EAPA),\4\ Cando will acquire from Savage all of the
issued and outstanding equity interests in SBG and STR, and certain
other entities owned directly or indirectly by Savage. Currently, Cando
and AIMCo control one rail carrier, Cando Rail & Terminals Inc. (Cando
RT), which holds authority to operate as a rail carrier in Arkansas.\5\
Pursuant to the EAPA, Cando would assume direct control, and AIMCo
would assume indirect control, of SBG and STR.
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\4\ A highly confidential, unredacted version of the EAPA was
submitted under seal concurrently with a motion for protective
order. In its motion Cando and AIMCo request a waiver of the
requirement to submit a redacted, public version of the EAPA with
the verified notice. The motion for protective order and request for
waiver will be addressed in a separate decision.
\5\ See Cando Rail Servs.--Operation Exemption--Georgia-Pacific
Consumer Operations, LLC, FD 36313 (STB served Aug. 2, 2019).
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Cando states that: (1) the rail lines of SBG and STR do not connect
with each other or with the trackage over which Cando RT has operating
rights; (2) the proposed transaction is not part of a series of
anticipated transactions that would result in such a connection; and
(3) the transaction does not involve a Class I rail carrier. Therefore,
the proposed transaction is exempt from the prior approval requirements
of 49 U.S.C. 11323. See 49 CFR 1180.2(d)(2).
The earliest this transaction may be consummated is April 10, 2026,
the effective date of the exemption (30 days after the verified notice
was filed).
Under 49 U.S.C. 10502(g), the Board may not use its exemption
authority to relieve a rail carrier of its statutory obligation to
protect the interests of its employees. However, 49 U.S.C. 11326(c)
does not provide for labor protection for transactions under 49 U.S.C.
11324 and 11325 that involve only Class III rail carriers. Because this
transaction involves Class III rail carriers only, the Board, under the
statute, may not impose labor protective conditions for this
transaction.
If the verified notice contains false or misleading information,
the exemption is void ab initio. Petitions to revoke the exemption
under 49 U.S.C. 10502(d) may be filed at any time. The filing of a
petition to revoke will not automatically stay the effectiveness of the
exemption. Petitions for stay must be filed by April 3, 2026 (at least
seven days before the exemption becomes effective).
All pleadings, referring to Docket No. FD 36914, should be filed
with the Surface Transportation Board via e-filing on the Board's
website or in writing addressed to 395 E Street SW, Washington, DC
20423-0001. In addition, a copy of each pleading must be served on
Cando and AIMCo's representative, Thomas J. Litwiler, Fletcher & Sippel
LLC, 29 North Wacker Drive, Suite 800, Chicago, IL 60606-3208.
According to Cando and AIMCo this action is categorically excluded
from environmental review under 49 CFR 1105.6(c) and from historic
preservation reporting requirements under 49 CFR 1105.8(b).
Board decisions and notices are available at <a href="http://www.stb.gov">www.stb.gov</a>.
Decided: March 24, 2026.
By the Board, Anika S. Cooper, Chief Counsel, Office of Chief
Counsel.
Brendetta Jones,
Clearance Clerk.
[FR Doc. 2026-05933 Filed 3-26-26; 8:45 am]
BILLING CODE 4915-01-P
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</html>Indexed from Federal Register on March 27, 2026.
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