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CN Rail Mulls Real Estate Sales to Raise Cash for Network Revamp

Norfolk Southern Corp. Trains Haul Freight Ahead Of Earnings Figures
Photographer: Luke Sharrett/Bloomberg
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Canadian National Railway Co. will consider selling additional real estate to free up cash that can be plowed back into its network.

Properties in Montreal and Calgary are among the assets that Canadian National could divest in the coming months, interim Chief Executive Officer Jean-Jacques Ruest said Tuesday in an interview in Toronto. The company has already sold about C$150 million ($117 million) of “non-core” assets this month, Chief Financial Officer Ghislain Houle told analysts Monday.