Fortress Transportation and Infrastructure Investors completed the acquisition of Transtar from US Steel for $640m.

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.