Latest news with #FTAI
Yahoo
3 days ago
- Business
- Yahoo
FTAI Infrastructure to buy Wheeling & Lake Erie Railway for $1.05bn
FTAI Infrastructure has agreed to acquire The Wheeling Corporation, which owns the Wheeling & Lake Erie Railway Company (W&LE), for $1.05bn in cash. The Wheeling Corporation is being bought from an entity controlled by Larry Parsons, who is the CEO of The Wheeling Corporation. The W&LE operates as a Class II regional freight railroad, serving over 250 customers along more than 1,000 miles of track in Ohio, Pennsylvania, West Virginia, and Maryland. It connects to Transtar's Union Railroad outside of Pittsburgh, Pennsylvania. Concurrently with the finalisation of the acquisition, FTAI intends to refinance its existing 10.50% senior notes and Series A preferred stock. FTAI has secured commitments for $2.25bn in total capital, which includes $1.25bn in new debt and $1bn in preferred stock to be bought by Ares Management funds and issued through a newly established holding company that will own the merged Transtar and W&LE operations. FTAI CEO Ken Nicholson said: 'Growing our freight rail platform has been a key focus for FTAI, and we are thrilled to have this opportunity to combine with the W&LE. 'We believe the W&LE is an excellent candidate for a combination with Transtar, adding scale, diversification and network reach. 'Together, Transtar and the W&LE have identified several growth opportunities and operating efficiencies that we expect to drive substantial growth in revenue and EBITDA.' The transaction is anticipated to close into a voting trust according to the rules set by the US Surface Transportation Board, in the third quarter of this year, pending the fulfilment of standard closing conditions. FTAI expects to assume control of the W&LE once STB approval is granted, making W&LE an affiliate of Transtar. Barclays and Deutsche Bank offered debt commitments and financial advisory services to FIP, while Sidley Austin and Skadden, Arps, Slate, Meagher & Flom served as legal advisors to the company. Calfee, Halter & Griswold and Fletcher & Sippel provided legal counsel to W&LE. "FTAI Infrastructure to buy Wheeling & Lake Erie Railway for $1.05bn" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Infrastructure fund pays $1B to acquire largest US regional railroad
The Wheeling & Lake Erie Railway — at 840 miles the largest independent regional railroad in the U.S. — is being acquired by FTAI Infrastructure in a billion-dollar deal, the companies announced today. FTAI ( NYSE: FIP), which owns short line and terminal switching operator Transtar, will pay The Wheeling Corp. $1.05 billion to acquire the regional railroad created from lines that Norfolk Southern spun off in 1990. FTAI is managed by an affiliate of Fortress Investment Group. The Class II W&LE serves more than 250 customers in Ohio, Pennsylvania, West Virginia, and Maryland. The W&LE connects to Transtar's Union Railroad in the Pittsburgh area. 'Growing our freight rail platform has been a key focus for FIP, and we are thrilled to have this opportunity to combine with the W&LE,' FTAI Chief Executive Ken Nicholson said in a statement. 'We believe the W&LE is an excellent candidate for a combination with Transtar, adding scale, diversification, and network reach. Together, Transtar and the W&LE have identified several growth opportunities and operating efficiencies that we expect to drive substantial growth.' Since 1992, Wheeling Corp. CEO Larry Parsons has been the driving force behind the rebirth of the W&LE. He guided the railroad through a period of extraordinary change and transformed a coal-dependent line into a modern, customer-focused regional railroad, FTAI said. 'His leadership has left an indelible mark on the company and the communities it serves. In seeking a long-term partner to carry this legacy forward, Mr. Parsons chose FTAI Infrastructure Inc. and Transtar, whose values and operational excellence reflect the foundation he spent a lifetime building,' FTAI said. The railroad carries more than 140,000 carloads per year, interchanges with three Class I railroads and 16 regional and short line railroads, and employs more than 425 people. W&LE currently handles steel and raw materials to and from five different mills; aggregates from three different quarries; chemicals; industrial minerals, including frac sand; plastic products; grain and food products; lumber; paper; and petroleum products, including LPG and NGL produced in the Marcellus and Utica shale formations. The transaction is expected to close into a voting trust in the third quarter of 2025, subject to customary closing conditions. FTAI said it expects to gain control of the W&LE upon receipt of approval by the Surface Transportation Board, at which time the W&LE will be an affiliate of Transtar. Pittsburgh-based Transtar operates former U.S. Steel properties, including The Union Railroad; the East Ohio Valley Railway; The Lake Terminal Railroad in Lorain, Ohio; the Delray Connecting Railroad in the Detroit area; The Gary Railway in Indiana; The Fairfield Southern in Alabama; and the Texas & Northern. In May 1990, Wheeling Acquisition Corp. paid Norfolk Southern $40 million for 446 miles of track that became the core of today's W&LE. NS simultaneously leased the new railroad an additional 121 miles of track. Subscribe to FreightWaves' Rail e-newsletter and get the latest insights on rail freight right in your inbox. Find more articles by Stuart Chirls here. Efficiencies, demand aid Freightcar America earnings Rail merger will bring 'dismal service,' 'high rates', says shippers group UP-NS merger puts intermodal giants on the wrong side of the map Hub Group is fully behind a potential UP-NS transcontinental railroad creation The post Infrastructure fund pays $1B to acquire largest US regional railroad appeared first on FreightWaves.
Yahoo
01-08-2025
- Business
- Yahoo
FTAI Aviation (FTAI) Soars 26.6% on Bullish Rating, Strong Q2
We recently published . FTAI Aviation Ltd. (NASDAQ:FTAI) is one of the best-performing stocks on Wednesday. FTAI Aviation ended two straight days of losses on Wednesday, jumping 26.56 percent to close at $144.46 apiece as investors took path from an investment firm's bullish rating and the company's impressive earnings performance in the second quarter of the year. In a market note, Stifel raised its price target for FTAI Aviation Ltd. (NASDAQ:FTAI) to $147 from $123 previously, while maintaining a 'buy' recommendation following the significant increase in module production and expectations of piece part repairs and Parts Manufacturer Approval to drive higher margins in the second half of the year. Giannis Papanikos/ In other developments, FTAI Aviation Ltd. (NASDAQ:FTAI) said it swung to a net income attributable to shareholders of $162 million in the second quarter of the year from a $228 million net loss in the same period a year earlier. Total revenues ended at $676 million, higher by 52 percent than the $443 million year-on-year. In the first six months, FTAI Aviation Ltd. (NASDAQ:FTAI) also swung to a $251.6 million net income attributable to shareholders from a $197 million net loss in the same period last year. Total revenues expanded by 53 percent to $1.178 billion from $770 million year-on-year. While we acknowledge the potential of FTAI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
Globe and Mail
09-07-2025
- Business
- Globe and Mail
FTAI Infrastructure Inc. Announces Timing of Second Quarter 2025 Earnings and Conference Call
NEW YORK, July 09, 2025 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP; the "Company" or 'FTAI Infrastructure') plans to announce its financial results for the second quarter 2025 after the closing of Nasdaq on Thursday, August 7, 2025. A copy of the press release and an earnings supplement will be posted to the Investor Relations section of the Company's website, In addition, management will host a conference call on Friday, August 8, 2025, at 8:00 A.M. Eastern Time. The conference call may be accessed by registering via the following link Once registered, participants will receive a dial-in and unique pin to access the call. A simultaneous webcast of the conference call will be available to the public on a listen-only basis at Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast. A replay of the conference call will be available after 11:30 A.M. on Friday, August 8, 2025, through 11:30 A.M. on Friday, August 15, 2025 on The information contained on, or accessible through, any websites included in this press release is not incorporated by reference into, and should not be considered a part of, this press release. About FTAI Infrastructure Inc. FTAI Infrastructure primarily invests in critical infrastructure with high barriers to entry across the rail, ports and terminals, and power and gas sectors that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI Infrastructure is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm. For further information, please contact:
Yahoo
09-07-2025
- Business
- Yahoo
FTAI Infrastructure Inc. Announces Timing of Second Quarter 2025 Earnings and Conference Call
NEW YORK, July 09, 2025 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP; the "Company" or 'FTAI Infrastructure') plans to announce its financial results for the second quarter 2025 after the closing of Nasdaq on Thursday, August 7, 2025. A copy of the press release and an earnings supplement will be posted to the Investor Relations section of the Company's website, In addition, management will host a conference call on Friday, August 8, 2025, at 8:00 A.M. Eastern Time. The conference call may be accessed by registering via the following link Once registered, participants will receive a dial-in and unique pin to access the call. A simultaneous webcast of the conference call will be available to the public on a listen-only basis at Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast. A replay of the conference call will be available after 11:30 A.M. on Friday, August 8, 2025, through 11:30 A.M. on Friday, August 15, 2025 on The information contained on, or accessible through, any websites included in this press release is not incorporated by reference into, and should not be considered a part of, this press release. About FTAI Infrastructure Inc. FTAI Infrastructure primarily invests in critical infrastructure with high barriers to entry across the rail, ports and terminals, and power and gas sectors that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI Infrastructure is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm. For further information, please contact: Alan AndreiniInvestor RelationsFTAI Infrastructure Inc.646-734-9414aandreini@ sesión para acceder a tu cartera de valores
