FTAI Infrastructure Wins U.S. Surface Transportation Board Approval
(RTTNews) - FTAI Infrastructure Inc. (FIP), a transport energy infrastructure operator, on Monday announced that the U.S. Surface Transportation Board has approved its acquisition of Wheeling & Lake Erie Railway Company, with the approval effective from December 26.
The company also said that the voting trust, which has been controlling The Wheeling since the transaction closed on August 25, is expected to be dissolved on or shortly after the effective date.
Following the dissolution, the company will assume control of The Wheeling and combine its operations with the company's existing Transtar freight rail business.
On Friday, FTAI Infrastructure closed trading 4.6455% higher at $4.2800 on the Nasdaq.
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