---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-029042"
form_type: "8-K"
ticker: "FIP"
cik: "0001899883"
company_name: "FTAI Infrastructure Inc."
filed_at: "2025-08-06T23:59:59+00:00"
generated_at: "2026-05-17T20:00:03.511918+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# FIP to acquire Wheeling & Lake Erie Railway for $1.05B cash; combine with Transtar rail platform

## Summary
- Acquisition price $1.05B cash; expected to close into voting trust in Q3 2025 pending STB approval.
- Financing: $1.25B new debt and $1B preferred equity from Ares Management funds to fund purchase and refinance existing 10.50% notes and Series A preferred.
- Combined freight rail segment (Transtar + W&LE) targeted to generate ~$200M annual Adjusted EBITDA by end of 2026.
- W&LE is Class II railroad with 1,000+ miles serving 250+ customers in OH, PA, WV, MD.
- Company plans to discuss transaction on Q2 earnings call scheduled Aug 8, 2025.

## SEC filing metadata
- accession: 0001140361-25-029042
- form_type: 8-K
- ticker: FIP
- cik: 0001899883
- company_name: FTAI Infrastructure Inc.
- filed_at: 2025-08-06T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1899883/000114036125029042/0001140361-25-029042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1899883/000114036125029042/ef20053302_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-029042
- JSON: https://secwatch.observer/filing/0001140361-25-029042.json
- Plain text: https://secwatch.observer/filing/0001140361-25-029042.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.