Ftai infrastructure inc. announces agreement to acquire the wheeling & lake erie railway company

New york, aug. 06, 2025 (globe newswire) -- ftai infrastructure inc. (nasdaq:fip) (the “company” or “fip”) announced today that it has agreed to purchase the wheeling corporation, owner of the wheeling & lake erie railway company (the “w&le”), for cash consideration of $1.05 billion from an entity controlled by larry parsons, the ceo of the wheeling corporation. the w&le is a class ii regional freight railroad serving more than 250 customers along over 1,000 miles of track in the states of ohio, pennsylvania, west virginia, and maryland. the w&le connects to transtar's union railroad company, llc outside of pittsburgh, pennsylvania.
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