SoftBank Group Corp. said it had entered into an agreement to acquire Fortress Investment Group LLC for approximately $3.3 billion in cash.
Fortress is a highly diversified investment company with $70.1 billion in assets under management as of Sept. 30, 2016.
Some of its transportation-related holdings include Florida East Coast Railroad (FECR), Trac Intermodal, and Seacube Container Leasing. It was formerly the owner of the short-line railroad company RailAmerica, which it sold to Genesee & Wyoming in 2013.
American Shipper profiled FECR and its interests in liquified natural gas
- both as a locomotive fuel and a commodity to transport for customers - in its December 2015 issue. The short-line railroad, which operates an on-dock ship-to-rail intermodal facility at PortMiami, runs from the South Florida gateway to Jacksonville, Fla., where it connects with mainline Class Is CSX and Norfolk Southern.