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Fortress Said to Explore Sale of Florida East Coast Railway

  • Asset manager said to work with Barclays, Morgan Stanley
  • Company was taken private in 2007 as part of $3.5 billion deal
Updated on

Fortress Investment Group LLC is exploring a sale of Florida East Coast Railway Corp., the coastal freight operator it took private in 2007, according to people familiar with the matter.

Asset manager Fortress is working with Barclays Plc and Morgan Stanley to weigh options for Jacksonville-based Florida East Coast Railway, the people said, asking not to be named as the details aren’t public. The company is likely to attract interest from other private equity firms, infrastructure firms and railway operators, the people said.