(The Associated Press circulated the following on July 1, 2009.)
OMAHA, Neb. — Railroad operator Union Pacific Corp. said Tuesday it has completed a $118 million land transfer to the Regional Transportation District in Colorado.
The agreement involves Union Pacific’s entire Boulder Industrial Lead, from Brighton Boulevard in Commerce City to Boulder, a distance of roughly 33 miles.
Union Pacific has reserved a rail easement to continue serving its freight customers on the first 8 miles.
The company said it will book a pretax gain of about $115 million in the second quarter on the transaction.
Shares fell 62 cents to close at $52.06.