Summary
FTAI Aviation Ltd. (FTAI), formerly Fortress Transportation and Infrastructure Investors LLC, announced the completion of the sale of its Central Maine & Quebec Railway (CMQR) to Canadian Pacific Railway for a cash consideration of $130 million. This transaction represents a significant divestiture for the company, marking a strategic shift away from its rail operations. Investors should note that the company has also filed unaudited pro forma financial statements reflecting the impact of this sale on its balance sheet and income statements for various periods. These pro forma statements will provide crucial insight into the company's financial position and operational performance post-disposition, allowing for a clearer understanding of its future financial trajectory and capital allocation strategies.
Key Highlights
- 1FTAI Aviation Ltd. completed the sale of its Central Maine & Quebec Railway (CMQR).
- 2The buyer of CMQR is Canadian Pacific Railway.
- 3The transaction was completed on December 30, 2019.
- 4The aggregate purchase price for the sale was $130,000,000 in cash.
- 5The company filed unaudited pro forma financial information reflecting the impact of the sale.
- 6Pro forma financial statements are available for September 30, 2019, and fiscal years 2018, 2017, and 2016.