Skip to main content

PLEASE NOTE: For everyone’s safety, Fasken recommends anyone on-site at our Canadian offices be familiar with the COVID-19 recommendations in place which may include one or more of the following: social distancing, hand sanitizing, wearing a mask in common areas and proof of full vaccination. These measures apply to lawyers, staff, clients, service providers and other visitors.

Client Work

CPR reduces interest in Detroit River Tunnel Partnership for proceeds of US$110 million

Reading Time 1 minute read Subscribe



Canadian Pacific Railway

Canadian Pacific Railway Company ("CPR") and the Borealis Transportation Infrastructure Trust ("Borealis") were equal partners in the Detroit River Tunnel Partnership, which operates a rail tunnel between Windsor and Detroit. On June 30, 2009, CPR reduced its interest in the partnership for aggregate proceeds of $110 million. Borealis now owns 83.5% and CPR owns 16.5%. Regulatory approvals for the transaction were required under the Competition Act, the Canada Transportation Act and the International Bridges and Tunnels Act. CPR's legal team was led by Paul Guthrie, Vice-President Law, assisted by lawyers from Fasken Martineau including Andrew Derksen (corporate); William Bies (tax); and Anthony Baldanza and Mark Magro (competition and regulatory).



    Receive email updates from our team