[Federal Register Volume 65, Number 130 (Thursday, July 6, 2000)]
[Notices]
[Pages 41745-41746]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-16858]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 33890]


The International Paper Company--Acquisition of Control 
Exemption--Moscow, Camden & San Augustine Railroad and Angelina & 
Neches River Railroad Company

    The International Paper Company (IP), a noncarrier, has filed a 
notice of exemption to acquire control, through stock purchase, of 
Moscow, Camden & San Augustine Railroad (MCSA) and Angelina and Neches 
River Railroad Company (ANR) (collectively rail lines), Class III 
railroads, operating in the State of Texas.\1\
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    \1\ IP's acquisition of control of MCSA and ANR was accomplished 
through an Agreement and Plan of Merger dated May 12, 2000, through 
which IP acquired over 90% of the outstanding common stock of the 
Champion International Corporation (Champion). Both prior and 
subsequent to the acquisition, Champion owned 100% of the stock of 
MCSA and 50% of the stock of ANR.
    IP currently owns the Longview, Portland & Northern Railway 
Company, which operates in the State of Oregon.
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    While IP states that the transaction was consummated on or about 
June 16, 2000, the exemption will not be effective until June 30, 2000 
(7 days after the notice of exemption was filed).
    IP states that: (i) The rail lines do not connect; (ii) the 
transaction is not part of a series of anticipated transactions that 
would connect these railroads with each other or with any other 
railroad in their corporate family; and (iii) the transaction does not 
involve a Class I carrier. Therefore, the transaction is exempt from 
the prior approval requirements of 49 U.S.C. 11323. See 49 CFR 
1180.2(d)(2).
    Under 49 U.S.C. 10502(g), the Board may not use its exemption 
authority to relieve a rail carrier of its statutory obligation to 
protect the interests of its employees. Section 11326(c), however, does 
not provide for labor protection for transactions under sections 11324 
and 11325 that involve only Class III rail

[[Page 41746]]

carriers. Because this transaction involves Class III rail carriers 
only, the Board, under the statute, may not impose labor protective 
conditions for this transaction.
    If the notice contains false or misleading information, the 
exemption is void ab initio. Petitions to revoke the exemption under 49 
U.S.C. 10502(d) may be filed at any time. The filing of a petition to 
revoke will not automatically stay the transaction.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 33890, must be filed with the Surface Transportation 
Board, Office of the Secretary, Case Control Unit, 1925 K Street, NW., 
Washington, DC 20423-0001. In addition, a copy of each pleading must be 
served on Edward D. Greenberg, Galland, Kharasch, Greenberg, Fellman & 
Swirsky, P.C., Canal Square, 1054 Thirty-First Street, NW., Suite 200, 
Washington, DC 20007.

    Decided: June 27, 2000.
    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 00-16858 Filed 7-5-00; 8:45 am]
BILLING CODE 4915-00-P