Canadian Pacific to split Into five firms

February 13, 2001
Source: Canada.com
Original story - link verified on February 13, 2001
By Jeffrey Jones

Canadian Pacific Ltd. , one of Canada's biggest and oldest companies, said it would split into five publicly traded firms. Besides CP Rail, Canada's number two railway, Canadian Pacific owns PanCanadian Petroleum Ltd., Fording Coal Ltd., CP Ships, a global shipping firm, and CP Hotels, which, under the Fairmont banner, manages some of the world's best-known luxury properties, such the Banff Springs Hotel. The hotel unit, which also runs Canada's Delta chain, will be Canadian Pacific's remaining business after the massive spinoff to shareholders, expected by autumn.

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