Federal Register #Docket No. FD 36951

Intra-Corporate Rail Carrier Control Consolidation Exemption Notice

This notice concerns an intra-corporate family transaction exemption issued by the Surface Transportation Board for Fortress Investment Group LLC, a noncarrier, benefiting FTAI Infrastructure Inc. - Government buyer: - Surface Transportation Board - Transaction details: - Transfer of direct control of The Wheeling Corporation (owner of Wheeling & Lake Erie Railway and Akron Barberton Cluster Railway Company) from FIP RR 2 LLC to Wheeling Holding Company LLC - Wheeling HoldCo also controls Union Railroad Company, Gary Railway Company, Delray Connecting Railroad Company, Texas & Northern Railway Company, The Lake Terminal Railroad Company, and East Ohio Valley Railway LLC - Purpose: - Consolidation of control under Wheeling HoldCo to promote management and operational efficiencies - Notable requirements: - No procurement of products or services - No OEMs or vendors involved - Exemption granted under 49 CFR 1180.2(d)(3) - No expected adverse impact on service levels or competition

Description

Fortress Investment Group LLC, a noncarrier, for the benefit of FTAI Infrastructure Inc., has filed a verified notice of exemption for an intra-corporate family transaction under 49 CFR 1180.2(d)(3). The transaction will transfer direct control of The Wheeling Corporation from FIPRR2 to Wheeling HoldCo, consolidating control of several rail carriers under Wheeling HoldCo to promote management and operational efficiencies. The transaction will not result in adverse changes in service levels or competitive balance and is exempt from prior approval requirements. The exemption will be effective on September 27, 2026, unless stayed.

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