Canadian Pacific Railway announced that the sale of its Latta Subdivision to Indiana Rail Road Co. closed Friday.

The proposed sale was approved by the Surface Transportation Board in a decision that was effective May 11, 2006.

The Latta Subdivision consists of 92.3 miles of track from Fayette, which is near Terre Haute, to Bedford, Ind. The sale includes trackage rights over CSX from Chicago to Terre Haute and from Bedford to Louisville, Ky. Indiana Rail Road Co. will take over all rail operations on the line starting May 27, 2006.