Cando Holdings (U.S.) Inc. and Alberta Investment Management Corporation - Control Exemption - Savage Bingham & Garfield Railroad LLC and Savage Tooele Railroad LLC
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Cando Holdings (U.S.) Inc. and AIMCo have filed a notice of exemption with the U.S. Surface Transportation Board to acquire control of two Class III railroads, Savage Bingham & Garfield Railroad LLC (SBG) and Savage Tooele Railroad LLC (STR), from Savage Infrastructure LLC. The transaction is scheduled to close on or after April 10, 2026. Cando currently controls one other small rail carrier (Cando RT) operating in Arkansas. The railroads involved operate approximately 21 miles in the Salt Lake City area and an 11-mile line in Tooele County, Utah, with no physical connections to each other or to Cando's existing operations. Because the transaction involves only Class III carriers with no connecting lines and does not include a Class I railroad, it qualifies for an exemption from standard merger approval requirements under 49 CFR 1180.2(d)(2).
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Key Changes
- Cando Holdings and AIMCo obtain control of SBG and STR from Savage Infrastructure LLC via Equity and Asset Purchase Agreement
- Transaction effective date is April 10, 2026 (30 days after filing)
- Exemption from prior approval requirements of 49 U.S.C. 11323 under 49 CFR 1180.2(d)(2)
+ 3 more changes with Pro
Obligations
What this law requires
Transaction may not be consummated before April 10, 2026 (30 days after verified notice filing date)
Petitions to revoke the exemption must be filed by April 3, 2026 if seeking a stay (at least seven days before exemption effective date)
All pleadings must reference Docket No. FD 36914 and be filed with the Surface Transportation Board via e-filing or in writing to 395 E Street SW, Washington, DC 20423-0001
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
If the verified notice contains false or misleading information, the exemption is void ab initio