[Federal Register Volume 88, Number 176 (Wednesday, September 13, 2023)]
[Notices]
[Pages 62868-62869]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-19777]


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SURFACE TRANSPORTATION BOARD

[Docket No. FD 36720]


Macquarie Infrastructure Partners V GP, LLC--Control Exemption--
Pioneer Valley Railroad Company, Inc.

    Macquarie Infrastructure Partners V GP, LLC (MIP GP), a noncarrier, 
filed on behalf of MIP Infrastructure Partners V fund vehicle (MIP V), 
MIP V Rail, LLC (MIP Rail), and Gulf & Atlantic Railways, LLC (G&A),\1\ 
a verified notice of exemption under 49 CFR 1180.2(d)(2) to acquire 
control of Pioneer Valley Railroad Company, Inc. (PVRR),\2\ a Class III 
carrier currently controlled by Pinsly Railroad Company (Pinsly), a 
non-carrier.
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    \1\ The verified notice states that G&A is wholly owned by MIP 
Rail, which is wholly owned (indirectly) by MIP V. MIP V is 
controlled by MIP GP.
    \2\ PVRR operates approximately 27 miles of track, including 18 
mainline miles, in Massachusetts. One of PVRR's lines runs north 
from Westfield, Mass., towards Southampton, Mass. The other line 
runs northeast from Westfield to Holyoke, Mass.
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    The verified notice states that, pursuant to a Purchase Agreement 
dated August 19, 2023,\3\ G&A has agreed to acquire from Pinsly 100% of 
the equity interests of PVRR. Currently, G&A directly controls, and MIP 
GP, MIP V, and MIP Rail indirectly control, five rail carriers: Grenada 
Railroad, LLC; Florida Gulf & Atlantic Railroad, LLC; Camp Chase Rail, 
LLC; Chesapeake and Indiana Railroad, LLC; and Vermilion Valley 
Railroad Company LLC.\4\
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    \3\ Public and confidential versions of the Purchase Agreement 
were filed with the verified notice. The confidential version was 
submitted under seal concurrently with a motion for protective 
order, which is addressed in a separate decision.
    \4\ See Macquarie Infrastructure Partners V GP, LLC--Control 
Exemption--Camp Chase Rail, Chesapeake & Ind. R.R., & Vermilion 
Valley R.R., FD 36685 (STB served Apr. 7, 2023).
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    MIP GP states that: (1) PVRR does not connect with any of the 
railroads that would be in the same corporate family following the 
transaction; (2) the proposed transaction is not part of a series of 
anticipated transactions that would connect PVRR with any railroad in 
its corporate family; and (3) the transaction does not involve a Class 
I rail carrier. Therefore, the proposed transaction is exempt from the 
prior approval requirements of 49 U.S.C. 11323. See 49 CFR 
1180.2(d)(2).
    The earliest this transaction may be consummated is September 27, 
2023, the effective date of the exemption (30 days after the verified 
notice was filed).
    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. However, 49 U.S.C. 11326(c) 
does not provide for labor protection for transactions under 49 U.S.C. 
11324 and 11325 that involve only Class III rail 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 verified 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 effectiveness of the 
exemption. Petitions to stay must be

[[Page 62869]]

filed no later than September 20, 2023 (at least seven days before the 
exemption becomes effective).
    All pleadings, referring to Docket No. FD 36720, should be filed 
with the Surface Transportation Board via e-filing on the Board's 
website or in writing addressed to 395 E Street SW, Washington, DC 
20423-0001. In addition, a copy of each pleading must be served on MIP 
GP's representative, Terence M. Hynes, Sidley Austin LLP, 1501 K Street 
NW, Washington, DC 20005.
    According to MIP GP, this action is categorically excluded from 
environmental review under 49 CFR 1105.6(c) and from historic 
preservation reporting requirements under 49 CFR 1105.8(b).
    Board decisions and notices are available at www.stb.gov.

    Decided: September 7, 2023.

    By the Board, Mai T. Dinh, Director, Office of Proceedings.
Regena Smith-Bernard,
Clearance Clerk.
[FR Doc. 2023-19777 Filed 9-12-23; 8:45 am]
BILLING CODE 4915-01-P