03:32 PM EST - Global Railway Industries Ltd. : announced the signing of an agreement for the sale of its operating subsidiary, CAD Railway Industries Ltd. (CADRI), to 2290693 Ontario Inc., a company controlled by Mr. Fausto Levy, Global and CADRI's President and Chief Executive Officer, with the participation of the Caisse de dépôt et placement du Québec (CDPQ) as a financial partner, as well as other members of CADRI management. The transaction is valued at approximately $12.9 million, including the assumption of debt outstanding of approximately $550,000. Global Railway Industries Ltd.
shares T.GBI are trading down $0.30 at $1.60.
