6644 Federal Register / Vol. 87, No. 24 / Friday, February 4, 2022 / Notices 

1The verified notice states that FTAI 

Infrastructure is a newly created subsidiary of FTAI, 

which is a Delaware limited liability company 

managed by an affiliate of Fortress. 

2The verified notice states that FTAI owns 100% 

of the equity interests of Transtar, LLC, which owns 

and controls URR, GRW, DCR, TNR, and LTR. See 

Fortress Inv. Grp. LLC—Acquis. & Continuance in 

Control Exemption—Ohio River Partners S’holder 

LLC, FD 36521 (STB served June 30, 2021). 

3The verified notice states that ORPS owns a 

12.2-mile freight rail line between milepost 60.5 

near Powhatan Point, Ohio, and milepost 72.2 near 

Hannibal, Ohio (the Omal Line). KRS has assumed 

the right and common carrier obligation to operate 

the Omal Line. Katahdin Railcar Servs. LLC— 

Change in Operators Exemption—Ohio Terminal 

Ry., FD 36487 (STB served Mar. 30, 2021); see also 

Fortress Inv. Grp. LLC—Exemption for Intra-Corp. 

Fam. Transaction—Ohio River Partners S’holder 

LLC, FD 36402 (STB served May 15, 2020). 

4According to the verified notice, the operating 

revenues of URR and GRW exceed the dollar 

threshold for Class II carrier status, but URR and 

GRW are designated as Class III carriers because 

they are switching and terminal carriers. See 49 

CFR 1201.1–1(d). 

5The verified notice states that the proposed 

transaction will be authorized by FTAI’s board of 

directors pursuant to a written resolution in 

substantially the form attached to the verified 

notice as Exhibit 2. 

State (telephone: 202–632–6471; email: 

section2459@state.gov). The mailing 

address is U.S. Department of State, L/ 

PD, 2200 C Street NW (SA–5), Suite 

5H03, Washington, DC 20522–0505. 

SUPPLEMENTARY INFORMATION: The 

foregoing determinations were made 

pursuant to the authority vested in me 

by the Act of October 19, 1965 (79 Stat. 

985; 22 U.S.C. 2459), E.O. 12047 of 

March 27, 1978, the Foreign Affairs 

Reform and Restructuring Act of 1998 

(112 Stat. 2681, et seq.; 22 U.S.C. 6501 

note, et seq.), Delegation of Authority 

No. 234 of October 1, 1999, Delegation 

of Authority No. 236–3 of August 28, 

2000, and Delegation of Authority No. 

523 of December 22, 2021. 

Stacy E. White, 

Deputy Assistant Secretary for Professional 

and Cultural Exchanges, Bureau of 

Educational and Cultural Affairs, Department 

of State. 

[FR Doc. 2022–02336 Filed 2–3–22; 8:45 am] 

BILLING CODE 4710–05–P 

SURFACE TRANSPORTATION BOARD 

[Docket No. FD 36576] 

Fortress Investment Group LLC— 

Exemption for Intra-Corporate Family 

Transaction—Ohio River Partners 

Shareholder LLC, Katahdin Railcar 

Services, LLC, Union Railroad 

Company, Gary Railway Company, 

Delray Connecting Railroad Company, 

Texas & Northern Railroad Company, 

and Lake Terminal Railroad Company 

Fortress Investment Group LLC 

(Fortress), for the benefit of Fortress 

Transportation and Infrastructure 

Investors LLC (FTAI) and FTAI 

Infrastructure Inc. (FTAI 

Infrastructure),1 (collectively, the 

Parties), has filed a verified notice of 

exemption for an intra-corporate family 

transaction under 49 CFR 1180.2(d)(3), 

which exempts from the prior approval 

requirements of 49 U.S.C. 11323 

‘‘[t]ransactions within a corporate 

family that do not result in adverse 

changes in service levels, significant 

operational changes, or a change in the 

competitive balance with carriers 

outside the corporate family.’’ 49 CFR 

1180.2(d)(3). 

According to the verified notice, FTAI 

indirectly owns controlling interests in 

seven common carrier railroads: Ohio 

River Partners Shareholder LLC (ORPS); 

Katahdin Railcar Services LLC (KRS); 

Union Railroad Company (URR); Gary 

Railway Company (GRW); Delray 

Connecting Railroad Company (DCR); 

Texas & Northern Railroad Company 

(TNR); and Lake Terminal Railroad 

Company (LTR).2 The verified notice 

states that ORPS is a non-operating 

carrier,3 and that the remaining 

railroads are each Class III carriers.4

Under the proposed transaction, FTAI 

will engage in an intra-corporate 

reorganization that will result in FTAI 

Infrastructure’s control of ORPS, KRS, 

URR, GRW, DCR, TNR, and LTR. The 

verified notice states that the purpose of 

the transaction is to separate FTAI’s 

aviation-related assets and liabilities 

from its railroad and energy 

infrastructure businesses. According to 

the verified notice, an affiliate of 

Fortress will continue managing FTAI 

Infrastructure and, indirectly, the seven 

railroads. Fortress states that the 

proposed transaction does not impose or 

involve an interchange commitment by 

or affecting the railroads, and that it will 

have no impact on the day-to-day 

operations of the seven railroads. 

Unless stayed, the exemption will be 

effective on February 20, 2022 (30 days 

after the verified notice was filed). 

Fortress states that the Parties intend to 

consummate the proposed transaction 

as soon as practicable after that date and 

final approval of the proposed 

transaction by FTAI’s board of 

directors.5

The verified notice states that the 

transaction will not result in adverse 

changes in service levels, operational 

changes, or a change in the competitive 

balance with carriers outside the 

corporate family. Therefore, the 

transaction is exempt from the prior 

approval requirements of 49 U.S.C. 

11323. See 49 CFR 1180.2(d)(3). 

Under 49 U.S.C. 10502(g), the Board 

may not use its exemption authority to 

relieve a rail carrier of its statutory 

obligation to protect the interests of its 

employees. However, 49 U.S.C. 11326(c) 

does not provide for labor protection for 

transactions under 49 U.S.C. 11324 and 

11325 that involve only Class III rail 

carriers. Accordingly, the Board may not 

impose labor protective conditions here 

because all the carriers involved are 

Class III rail carriers. 

If the verified notice contains false or 

misleading information, the exemption 

is void ab initio. Petitions to revoke the 

exemption under 49 U.S.C. 10502(d) 

may be filed at any time. The filing of 

a petition to revoke will not 

automatically stay the effectiveness of 

the exemption. Petitions for stay must 

be filed no later than February 11, 2022 

(at least seven days before the 

exemption becomes effective). 

All pleadings, referring to Docket No. 

FD 36576, should be filed with the 

Surface Transportation Board via efiling on the Board’s website. In 

addition, one copy of each pleading 

must be served on Fortress’s 

representative, Terence M. Hynes, 

Sidley Austin LLP, 1501 K Street NW, 

Washington, DC 20005. 

According to Fortress, this action is 

categorically excluded from 

environmental review under 49 CFR 

1105.6(c) and historic reporting under 

49 CFR 1105.8(b). 

Board decisions and notices are 

available at www.stb.gov. 

Decided: January 31, 2022. 

By the Board, Scott M. Zimmerman, Acting 

Director, Office of Proceedings. 

Stefan Rice, 

Clearance Clerk. 

[FR Doc. 2022–02360 Filed 2–3–22; 8:45 am] 

BILLING CODE 4915–01–P 

SURFACE TRANSPORTATION BOARD 

[Docket No. FD 36496] 

Application of the National Railroad 

Passenger Corporation Under 49 

U.S.C. 24308(e)—CSX Transportation, 

Inc., and Norfolk Southern Railway 

Company 

AGENCY: Surface Transportation Board. 

ACTION: Notice of public hearing. 

SUMMARY: The Surface Transportation 

Board (Board) will hold a public hearing 

in this docket, consisting of two phases. 

The first phase, which will involve 

comments from the public, will 

commence on February 15, 2022, and 


lotter on DSK11XQN23PROD with NOTICES1