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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 19, 1997
RailAmerica, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 0-20618 65-0328006
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State of Incorporation Commission File IRS Employer
Number Identification no.
301 Yamato Road, Suite 1190, Boca Raton, Florida 33431
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Address of Principal Executive Office
Registrant's telephone number, including area code: (561) 994-6015
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INFORMATION INCLUDED IN THE REPORT
Item 2. Acquisition or Disposition of Assets
On February 19, 1997, RailAmerica, Inc. ( the "Company") acquired,
through its wholly-owned subsidiary RailAmerica de Chile, S.A., a majority
interest in the stock of Empressa de Transporte Ferroviario S.A. ("Ferronor"),
a 1,400 mile railroad serving northern Chile. RailAmerica has joined in the
purchase of Ferronor with Andres Pirazzoli Y Cia, Ltda ("APCO"), a large
family-owned Chilean transportation and distribution company. The purchase
price paid by RailAmerica/APCO for substantially all of the stock of Ferronor
was approximately $12 million and was funded 55% by RailAmerica and 45% by
APCO. The sale of Ferronor by Corporacion de Formento de la Produccion, an
agency of the Chilean government, is a continuation of Chile's privatization
process.
Ferronor operates the only north-south railroad in northern Chile,
extending from La Calera near Santiago, where it connects with Chile's southern
railway, Ferrocarril del Pacifico, S.A., to its northern terminus at Iquique,
approximately 120 miles south of the Peruvian border. It also operates several
east-west branch lines that link a number of iron, copper and limestone mines
and production facilities with several Chilean Pacific port cities. Ferronor
also serves Argentina and Bolivia through traffic interchanged with the General
Belgrano Railroad and the Ferrocarriles Antofagasta Bolivia. The Company plans
to have Ferronor continue this line of business.
The assets acquired consist primarily of land, buildings, railway
corridor and equipment including 32 locomotives and approximately 700 rail
cars. The purchase price was arrived at through arms-length public bid process.
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Item 7. Financial Statements and Exhibits
(a) Financial statements of business acquired.(1)
See "Index to Financial Statements" on page 4.
(b) Pro forma financial information.(1)
See "Index to Financial Statements" on page 4.
(c) Exhibits.(1)
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(1) It is impractical to provide the required financial
information and exhibits at the present time. Accordingly, pursuant to the
provisions of (a)(4) of Item 7 of Form 8-K, the Company will file by amendment
the required information as soon as practical, but no later than 60 days after
this report is required to be filed.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized, on this 6th day of March, 1997.
RAILAMERICA, INC.
BY:/s/ Gary O Marino
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Gary O. Marino Chairman
and Chief Executive Officer
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INDEX TO FINANCIAL STATEMENTS
(a) Financial Statements of business acquired.(2)
(b) Pro forma financial information.(2)
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(2) To be filed by amendment.
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