XTrain company retains investment firm
The New York investment firm Dahlman Rose & Co. confirmed on Monday that it has been retained by the Las Vegas Railway Express as a financial adviser.
Dahlman Rose declined to give specifics on the extent of its role.
In a conference call last week, Las Vegas Railway Express CEO Michael Barron said Dahlman Rose would be involved with raising $100 million to launch the XTrain, a conventional passenger train that would run between Las Vegas and the Los Angeles suburb of Fullerton, Calif., for $99 one way, including food and drink. Barron said he hoped to raise the capital in January. Of the total, $56 million would go to the Union Pacific Railroad for track work to between Las Vegas and Daggett, Calif., with the rest used to refurbish passenger cars and other startup expenses. Barron said service would start in January 2014.
In April 2010, the company announced it had retained Hunter Capital Group LLC of Park City, Utah, as a financial adviser. Hunter did not raise startup capital, however.
Contact reporter Tim O’Reiley at
toreiley@reviewjournal.com or 702-387-5290.
