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Author Topic: MM&A could prove a bargaining chip for Irving’s pipeline ambitions Back to Topics
Nicoalbum

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Ottawa

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Message Posted: Aug 19, 2013 11:23:47 PM

The sprawling Irving business empire touches virtually everything in Atlantic Can

Shut down by federal regulators and hounded by creditors in bankruptcy court, the MM&A might not seem like much of a prize

But the company’s assets, including rail lines linking ME, NB and suburban Montreal, could prove very useful to the Irvings

Irving is already in the rail business. It owns NB&M Railways, which operates nearly 900km of track in ME and NB

Irving’s rail subsidiary is one of MM&A’s largest unsecured creditors, owed about $2M

But there is another, more strategic reason - rescuing MM&A from its current predicament would curry favour with both the federal and QC governments. Ottawa and Quebec hold the key to a much more important prize for Irving – the $12B Energy East pipeline project
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jrs4125
Champion Author Indiana

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Message Posted: Aug 21, 2013 1:20:56 AM

ok
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doctorindyj
Champion Author Santa Fe

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Message Posted: Aug 20, 2013 11:40:07 AM

Or just another opportunity for Buffett to exploit.
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Amplion
Champion Author Oregon

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Message Posted: Aug 20, 2013 12:20:34 AM

Might be a good idea.
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JohnofGB
Champion Author Flint

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Message Posted: Aug 20, 2013 12:18:16 AM

Pipelines are the safest way to transport crude oil.
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humblepie
Champion Author Toledo

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Message Posted: Aug 20, 2013 12:16:06 AM

could be good for all concerned
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SammyAdams
Champion Author Tallahassee

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Message Posted: Aug 19, 2013 11:31:56 PM

From the article: "The pipeline needs Quebec’s support. Without it, the project could be doomed. In the Irvings’ hands, MM&A would have political leverage. The railway’s abrupt shutdown is bad for the Quebec economy. The last thing Quebec wants is a permanent closing."

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Looks like a possibility.
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Nicoalbum
Champion Author Ottawa

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Message Posted: Aug 19, 2013 11:24:39 PM

A Big Daddy is coming and will pay for the cleanup???
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