Arctic Gateway Group acquires strategic rail link and arctic port at Churchill
Torys acted as counsel to Fairfax with a team that included Huw Evans, Tara Mackay, Chris Christopher, Stephen Abrahamson and Mike Meguid (corporate/M&A), Darryl Hiscocks and Mitch Frazer (pensions and employment), John Tobin (tax), David Dell (real estate), Tyson Dyck and Henry Ren (environmental), Nina Mansoori (lending), Sarah Whitmore (litigation) and Ebad Rahman (transitional services).
On September 4, 2018, The Arctic Gateway Group LP announced that they reached an agreement with Omnitrax Inc. to acquire the Hudson Bay Railway and Port of Churchill facilities. The deal closed on Friday, August 31, 2018.
According to a spokesperson, repairs to the rail line—the only land link to the Port of Churchill—which was damaged by flooding in spring 2017 and shut down between Gillam and the port for 15 months, are to begin immediately following the sale.
The Arctic Gateway Group LP consists of Fairfax Financial Holdings Limited, AGT Food and Ingredients Inc., and Missinippi Rail Limited Partnership, a consortium of First Nations and communities.
Further information can be found on Canada Newswire's website.