CPKC, Lanco Group/Mi-Jack Sell Panama Canal Railway Company To APM Terminals

(RTTNews) - Canadian Pacific Kansas City Limited (CP.TO), Wednesday announced that the company along with the Lanco Group/Mi-Jack sold the Panama Canal Railway Company to APM Terminals, an independent division of A.P. Moller - Maersk. The financial details of the deal have not been disclosed.

The company said that the sale reflects its commitment to optimize assets as it shifts focus on developing core North American rail business through unrivaled three-nation network connecting Canada, the United States and Mexico. Additionally, the deal would enhance shareholder value.

On Tuesday, Canadian Pacific's stock closed at C$101.71, up 0.71 percent on the Toronto.