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Berkshire Hathaway sells 2 short-line railroads


February 19. 2013 11:40PM
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(AP) Warren Buffett's company says it sold two short-line railroads it recently discovered it owned to satisfy regulators who might have reviewed Berkshire Hathaway's 2010 acquisition of the Burlington Northern Santa Fe railroad.


Berkshire told the Transportation Department's Surface Transportation Board earlier this month that it had recently completed the sale of both short-line railroads ahead of schedule.


If Berkshire had reported owning those railroads when it bought BNSF, the Surface Transportation Board would have had to scrutinize the deal.


Berkshire sold the 12-mile-long WCTU railroad that serves an industrial park near Medford, Ore., to RVTR Rail Holdings in December.


The 6-mile-long CBEC railroad that serves one of MidAmerican Energy's coal plants was sold to its two other co-owners in November.


Associated Press


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