CN sells rail west of Toronto used by GO Transit to Metrolinx for $52.5 million

TORONTO – Canadian National Railway Co. (TSX:CNR) has sold a portion of rail line west of Toronto to Metrolinx for $52.5 million.

The segment of line between Oakville, Ont., and Burlington, Ont., is mainly used by commuter trains operated by GO Transit.

CN says it will continue to operate freight trains over the rail line.

Metrolinx, which owns GO Transit, is a provincial transportation agency that operates inter-regional public transit between Toronto and surrounding areas.

Shares in CN were up $1.18 or 1.19 per cent at $100.02 in mid-afternoon trading Friday on the Toronto Stock Exchange.