FTAI Infrastructure Inc. Announces Approval from the U.S. Surface Transportation Board for Control of The Wheeling Corporation and The Wheeling & Lake Erie Railway Company
Rhea-AI Summary
FTAI Infrastructure (NASDAQ:FIP) announced that the U.S. Surface Transportation Board approved its acquisition of The Wheeling & Lake Erie Railway, effective December 26, 2025. The company expects the voting trust that has controlled The Wheeling since the August 25, 2025 closing to be dissolved on or shortly after the Effective Date.
After dissolution, the company will assume control of The Wheeling and combine operations with its existing Transtar freight rail business.
Positive
- STB approval granted with Effective Date: Dec 26, 2025
- Voting trust controlling The Wheeling to be dissolved after Effective Date
- Company will assume control and combine operations with Transtar freight rail business
Negative
- None.
News Market Reaction
On the day this news was published, FIP declined 0.47%, reflecting a mild negative market reaction. Argus tracked a peak move of +2.5% during that session. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $3M from the company's valuation, bringing the market cap to $531M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
FIP gained 7.93% on STB control approval while peers were mixed: TTI up 3.41%, BOC up 1.19%, CRESY and CODI down, TRC flat. Moves do not indicate a broad sector trend.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 01 | Regulatory approval | Positive | -0.5% | STB approved control and combination with Transtar rail operations. |
| Oct 30 | Earnings & dividend | Negative | -3.0% | Q3 2025 results with large net loss despite higher Adjusted EBITDA. |
| Oct 20 | Project development | Positive | +7.4% | Regulatory approval for Phase 3 LPG storage caverns at Repauno. |
| Oct 02 | Earnings scheduling | Neutral | +7.0% | Announcement of Q3 2025 earnings release and conference call timing. |
| Aug 07 | Earnings & acquisition | Negative | -20.2% | Q2 loss alongside announcement of $1.05B Wheeling acquisition and financing. |
The stock has mostly moved in line with the tone of past news, with one divergence where regulatory approval coincided with a modest decline.
Over the last few months, FTAI Infrastructure has focused on large-scale rail and energy infrastructure. On Aug 7, 2025, it reported Q2 results and announced the planned $1.05 billion Wheeling & Lake Erie acquisition, alongside major debt financing. Subsequent Q3 2025 results on Oct 30 showed higher Adjusted EBITDA but continued net losses. Project-wise, the Repauno terminal secured Phase 3 development approval on Oct 20. Today’s Surface Transportation Board approval advances the Wheeling transaction from a voting trust structure to full operational control.
Market Pulse Summary
This announcement confirmed U.S. Surface Transportation Board approval for FTAI Infrastructure to assume control of The Wheeling & Lake Erie Railway on December 26, 2025, transitioning the asset out of a voting trust and into combined operations with the Transtar freight rail business. In recent months, the company has paired this rail expansion with major project approvals and continued net losses. Investors may track post-closing integration progress, earnings updates, and debt management disclosures as key follow-ons.
Key Terms
surface transportation board regulatory
voting trust financial
AI-generated analysis. Not financial advice.
NEW YORK, Dec. 01, 2025 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP) (the “Company”) announced today that the Surface Transportation Board has approved the acquisition of the Wheeling & Lake Erie Railway Company (“The Wheeling”) effective December 26, 2025 (the “Effective Date”). The voting trust that has controlled The Wheeling since the transaction closed on August 25, 2025 is expected to be dissolved on or shortly after the Effective Date and thereafter the Company would assume control of The Wheeling and combine operations with its existing Transtar freight rail business.
About FTAI Infrastructure Inc.
FTAI Infrastructure Inc. primarily invests in critical infrastructure with high barriers to entry across the rail, ports and terminals, and power and gas sectors that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI Infrastructure Inc. is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond the Company’s control. The Company can give no assurance that its expectations will be attained and such differences may be material. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Company’s website (www.fipinc.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.
For further information, please contact:
Alan Andreini
Investor Relations
FTAI Infrastructure Inc.
(646) 734-9414
aandreini@ftaiaviation.com
FAQ
What did FTAI Infrastructure (FIP) announce on December 1, 2025?
When will FIP assume control of The Wheeling & Lake Erie Railway?
What happens to the voting trust that has controlled The Wheeling since Aug 25, 2025?
How will FIP integrate The Wheeling with its existing operations?
Which regulatory body approved FIP's acquisition of The Wheeling?
