Announced
Completed
Financials
Tags
United States
logistics services
transportation services
Industrial Distribution
Majority
Acquisition
Single Bidder
Domestic
Private
Friendly
Private Equity
Completed
Synopsis
Fortress Transportation and Infrastructure Investors, an owner of high quality infrastructure and transportation equipment, completed the acquisition of Transtar, a transportation and logistics services firm, from US Steel, an integrated steel producer, for $640m. “By selling Transtar to an experienced railroad operator, US Steel can better focus on our broader Best for All strategy. By monetizing our railroad assets at an implied multiple well above our existing valuation, we create immediate value for our stockholders. In addition, the strong partnership we have created with FTAI will ensure continued support of our steelmaking facilities with predictable and cost-effective railroad operations,” David B. Burritt, US Steel President and Chief Executive Officer.
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