Fortress Transportation and Infrastructure Investors (FTAI) Acquires Transtar, LLC from United States Steel
June 8, 2021
Fortress Transportation and Infrastructure Investors LLC (FTAI) agreed to acquire United States Steel Corporation’s rail operating subsidiary, Transtar, LLC, for $640 million, with the transaction expected to close in Q3 2021 subject to regulatory approvals. FTAI and U.S. Steel will also enter a 15-year exclusive strategic rail services agreement (with minimum volume commitments for the first five years), providing FTAI with long-term contracted revenue and opportunities to grow third-party rail services and ancillary businesses.
- Buyers
- Fortress Transportation and Infrastructure Investors LLC (FTAI)
- Targets
- Transtar, LLC
- Sellers
- United States Steel Corporation
- Industry
- Transportation
- Location
- Pennsylvania, United States
- Transaction Type
- Buyout
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